The Agreement Establishing the European Bank for Reconstruction and Development includes a significant political element in that it specifies that the Bank may carry out its purpose in countries of operations that are proceeding in their transition towards market-oriented economies and are committed to and applying principles of multiparty democracy and pluralism. Soon after the Bank became operational its Board of Directors approved procedures to implement the political aspects of the Bank’s mandate in ways which recognise the critical link between the political and economic aspects of the Agreement. This procedures paper was updated in 2013. An addendum to the paper was published in 2018.
