European Bank looks east

The annual meeting of the European Bank for Reconstruction and Development is under way in the Romanian capital, Bucharest, with the aim of deciding where to target investment projects next year.

The bank, based in London, was set up 11 years ago to help former communist countries in eastern Europe develop western-style economies.

Its President, Jean Lemierre, says the bank is planning a change of direction to shift resources to poorer countries further east such as Tajikistan, Armenia and Azerbaijan.

Initial discussions have focused on the economic and political impact of European Union enlargement, and concerns over the rise of European far-right parties opposed to the EU.

From the newsroom of the BBC World Service