The European Bank for Reconstruction and Development was established in 1991. It is owned by 60 countries and two intergovernmental institutions - the European Community and the European Investment Bank. The Bank's share capital, totalling EUR 20 billion, is provided by its members. Despite its public sector shareholders, it invests mainly in private enterprises, usually together with commercial partners. The Agreement states that EBRD should "promote in the full range of its activities environmentally sound and sustainable development."

The EBRD provides financial assistance for infrastructure or private sector projects in different form such as loans, equity and guarantees. If a government, municipality or private enterprise applies for a loan from the EBRD for the development of a project and the EBRD considers that this project is potentially suitable for financing, the following project cycle begins.

Graph: EBRD Project Cycle Project Summary Document, Environment Impact Assesment Board Document, For public sector project available after Board Approval Concept Clearance Initial Review Final Review Executive Commettee Board Approval Signing Disbursement in several branches Repayments

EBRD proposed projects and programmes should be examined to ensure that they are environmentally sound. Environmental procedures need to be followed throughout the life of every Bank project.

Access to EBRD information
Traditionally it has been difficult to obtain information from the European Bank for Reconstruction and Development (EBRD). A new Public Information Policy was introduced in July 2000, developed due to the increasing pressure on the EBRD to become more transparent and participatory.

The EBRD divides information into two categories, project-specific information and information on policies and strategies. In addition, there are also annual reports and other EBRD publications made available to the public (contact the Publications Desk or a Resident Office).EBRD information is made available through its Resident Offices, its website (www.ebrd.com), Project Enqiries Desc, Publications' Desk, and the Business information centre.

LANGUAGE ISSUES The EBRD has four official languages, English, French, German and Russian. EBRD documenta-tion is almost always prepared in English and is only sometimes translated and made available in the other languages.

EBRD ADDRESS
The EBRD
One Exchange Square
London
EC2A 2JN United Kingdom
Tel: +44 207 338 6000
Fax: +44 207 338 6100

Bulgaria
17 Moskovska Street
Sofia 1000
tel: + 359 2 987 66 11
fax: +359 2 981 53 36