European Bank for Reconstruction and Development (EBRD) is an economic development agency founded in 1991 and is based in London, United Kingdom. The bank provides project financing for banks, industries, and businesses, both new ventures, and investments in existing companies. EBRD investments in private sector projects which are mainly in the form of senior, subordinated, mezzanine or convertible debt. It also invests in equity ranging in industry, infrastructure, and the financial sector. EBRD supports financial intermediaries, such as local commercial banks, micro-business banks, equity funds, and leasing facilities. In addition to finance, the EBRD provides business advice to small and medium-sized businesses.