The European Bank for Reconstruction and Development (EBRD)

The EBRD was established in April 1991 in response to the unprecedented changes and challenges arising from the eastern European and central Asian countries' move from centrally planned economies to democratically governed market economies. The Bank was given the mandate to support this transformation.

Improving anti-money laundering and counter-terrorist financing measures in equity and debt transactions

As a major lender and investor in enterprises and financial institutions domiciled in its countries of operation, the EBRD has always sought to improve anti-money laundering and counter-terrorist financing (AML/CFT) measures. The Bank is also determined to ensure that all its operations have "transition impact", i.e. contribute to the transformation of its countries of operations from centrally planned economies to open market-oriented economies, and by insisting on satisfactory AML/CFT standards the EBRD assists the transition process.

Raising awareness of reform needs

The EBRD is also active beyond its purely financial operations. The EBRD seeks to raise awareness of policy makers and other interested parties about the legal, regulatory and market environment underpinning satisfactory AML/CFT measures in its countries of operations, in order to stimulate reform.

Next steps

As in the past, the Bank will emphasise the importance of adequate AML/CFT measures in its legal reform projects and other investment climate work with the governments of its countries of operations in co-operation with the World Bank, the IMF and other international financial institutions, and through its role as a prominent investor and lender. In addition, the EBRD will continue to participate in international initiatives developing AML/CFT standards, such as FATF and Moneyval.

For more information about the EBRD, please see their website at www.ebrd.com.