EBRD chief calls on Japan to support capital boost

TOKYO, Feb. 16 Kyodo -
The European Bank for Reconstruction and Development asked Japan on Tuesday to
support a plan to boost its capital by 50 percent, Finance Ministry officials
said.
EBRD President Thomas Mirow held talks with Finance Minister Naoto Kan in
Tokyo, telling him the international financial institution needs Japan's
assistance in raising its capital from the current 20 billion euros to 30
billion euros, the officials said.
Kan told Mirow that Japan will consider whether to increase its investment in
the development bank, founded in 1991 to help develop the private sector in the
countries of the former Soviet bloc.
As well as Britain, Germany, France and Italy, Japan is the London-based bank's
second-largest shareholder after the United States.
Under the plan, the EBRD is seeking to raise its capital in accordance with
each member country's current investment share, according to the officials.
If Japan accepts the request, its new investment will total 765 million euros.
Mirow was on the first visit to Japan since he took the helm of the bank in
July 2008, the officials said.
==Kyodo