Law in Transition 2021

Legal reform in the time of Covid-19

In 2020 Covid-19 revolutionised the way we live and work. And, accordingly, the crisis changed the way international financial institutions provide their assistance. In addition to its €4 billion Solidarity Package, the EBRD seized the opportunity to reimagine policy dialogue in a global pandemic. Helping governments improve their legal environments for business had to be adapted to the emergency they faced.

First, the crisis has highlighted the need to accelerate the digital agenda for legal and judicial reforms, as digital tools can help mitigate the consequences of social distancing measures applicable during the pandemic. And second, the EBRD’s Legal Transition Programme has responded to the crisis with an enhanced focus on insolvency law and restructurings, in order to help governments address the needs of businesses faced with financial difficulties. In spite of the pandemic, building sound legal systems remains a priority for promoting investment and creating resilient markets.