BERD is the word. (Bank for European Reconstruction and Development)

From: National Review | Date: December 3, 1990| Author: Kasten, Robert W. | Copyright information

Kasten, a Republican senator from Wisconsin, is ranking member of the Senate Foreign Operations Subcommittee.

THE BUSH Administration has committed U.S. tax dollars to a new multilateral development bank for Eastern Europe-the Bank for European Reconstruction and Development. BERD is to be initially capitalized at $12 billion; the U.S. paid-in capital contribution is $73 million for next year alone. While the U.S. will be the largest single contributor-providing 10 per cen...

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