It was set up after the fall of the Berlin wall to promote private and entrepreneurial initiative in emerging Europe. HQ – London. EBRD is owned by 66 countries and two EU institutions i.e EU & EIB. US is the biggest shareholder. Besides Europe, member countries of the EBRD are also from other continents – North America (Canada and US), Africa (Morocco), Asia (Japan, China, South Korea) and Australia. EBRD’s core operations pertain to private sector development in their countries of operation. The minimum initial investment towards the membership of EBRD will be approximately one million Euros. In 2017, the Union Cabinet has approved India’s membership for EBRD and shareholders of EBRD also voted for India’s full membership. The International Solar Alliance (ISA) and the European Bank for Reconstruction and Development (EBRD) has recently signed a pact for cooperation on energy projects.