Logo of the European Bank for Reconstruction and Development. [File Photo: cnwnews.com]

The European Bank for Reconstruction and Development has approved a request by the Chinese authorities for China to become its shareholder.

EBRD president Sir Suma Chakrabarti says China's membership will provide more opportunities for investment by Chinese groups.

The EBRD has also expressed that it's willing to work with the Beijing-based Asian Infrastructure Investment Bank.

The EBRD opened for business with headquarters in London in 1991.

Up to now, its existing shareholders included 64 countries and 2 international organizations.