European Bank for Reconstruction and Development

The EBRD provides assistance through direct loans. The loans are designed
to facilitate the development of market-oriented economies and to promote
private and entrepreneurial initiatives. The EBRD's charter mandates that
at least 60 percent of EBRD lending contribute to privatization of
state-owned enterprises. The remaining 40 percent may fund public
infrastructure or environmental projects that promote private sector
development, as well as state-owned enterprises that operate in a
competitive fashion. EBRD was established in May 1990 and began financing
operations in June 1991. EBRD headquarters are in London, England.