The European Bank for Reconstruction and Development (EBRD) was established
in 1991.It exists to foster the transition towards open market-oriented
economies and to promote private and entrepreneurial initiative in the countries
of central and eastern Europe and the Commonwealth of Independent States (CIS)
committed to and applying the principles of multiparty democracy, pluralism and
The EBRD seeks to help its 27 countries of operations to implement structural
and sectoral economic reforms, promoting competition, privatisation and
entrepreneurship, taking into account the particular needs of countries at
different stages of transition. Through its investments it promotes private
sector activity, the strengthening of financial institutions and legal systems,
and the development of the infrastructure needed to support the private sector.
The Bank applies sound banking and investment principles in all of its
In fulfilling its role as a catalyst of change, the Bank encourages co-financing
and foreign direct investment from the private and public sectors, helps to
mobilise domestic capital, and provides technical cooperation in relevant areas.
It works in close cooperation with international financial institutions and
other international and national organisations. In all of its activities, the
Bank promotes environmentally sound and sustainable development.
This extract is drawn from the
web site of EBRD.
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