International financial institutions (IFIs)

International cooperation has always been an important EBRD goal. A core aspect in tackling the financial crisis has been the establishment of the international framework, the Vienna Initiative, which brings together the key international financial institutions (IFIs) to create conditions that allow Western-based parent banks to continue their activities through subsidiaries in the EBRD region.

In addition, the adoption of the Joint IFI Action Plan by the EBRD, the EIB and World Bank ensures that €25 billion will be invested in the financial sector of the countries worst affected by the crisis.

The Vienna Initiative

The EBRD was a lead founder of the Vienna Initiative which was launched at the height of the financial crisis in January 2009. It  provides a framework for coordinating the crisis management and crisis resolution of financial sector issues that were highlighted by the economic downturn and involved large cross-border bank groups systemically important in the emerging Europe region. The  Initiative  brings together public and private sector stakeholders of EU-based cross-border bank groups present in emerging Europe, including:

• IFIs (IMF, EBRD, EIB, the World Bank)
• European Institutions (European Commission, ECB as observer)
• Home and host country regulatory and fiscal authorities of large cross – border bank groups
• The largest bank groups operating in the EBRD region.

Since its launch, the Vienna Initiative has held several general policy and country-specific meetings and events in pursuit of its aims.

The Private Sector Liaison Officer (PSLO) Network

The EBRD joined the PSLO Network in September 2010.

The network currently comprises 107 business intermediary organisations in 80 countries working to foster trade and investment between countries with the support of the products and services of international financial institutions (IFIs).

The network’s liaison officers are private sector communications professionals from business intermediary organisations. 

The officers facilitate access to IFI business opportunities for local companies, as well as business services and knowledge. They also act as the voice of their national private sector in advising the IFIs on how to better engage with companies.

Launched in September 1999 as a World Bank Group initiative, the PSLO network has now also become a business outreach platform for The World Bank Group, the EBRD, the Inter-American Development Bank and the African Development Bank.

The first PSLO Network EBRD retreat was held at the Bank on 31st January 2011. More information is available on the World Bank PSLO Network page. 

For more information please contact Teresa Green in Business Development.