In line with the existing practice, before the EBRD approves a new country of operation, it should make a detailed technical assessment of the economic and political conditions in the country concerned, including: an assessment of that country’s commitment to the principles of multiparty democracy, pluralism and market economics, as enshrined in Article 1 of the Agreement establishing the EBRD, an assessment of transition gaps, and a review of the activities of other international financing institutions in that country, and of the priorities in relation to which the EBRD could best make use of its unique knowledge and skills. Such an assessment should be undertaken subject to any new country applying for membership of the EBRD and for country of operation status and subject to the subsequent approval thereof by the Board of Governors of the EBRD.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
