May 9 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Friday it would commit up to 30 million euro ($46.4 million) to a 150 million euro project to set up a regional private equity fund with a focus on central and southeast Europe.
"The proposed project is a regional private equity fund with a target size of 125 million euro," the EBRD said in a statement.
The fund, called Arx CEE III, will seek to invest directly in equity and equity related securities of companies operating in central and southeastern Europe, the bank added.
The project is pending EBRD board final review due on June 17.
($ = 0.647 euro)