Use of Cookies

The Site uses cookies to record information about how people use the web site. A cookie is a piece of data that web sites send to a web user’s web browser in order to understand more about that user’s interests and intentions in using the site. 

This information is then used to refine and develop the site so that it benefits our audience as much as possible. By using this Site you are consenting to the EBRD sending one cookie to your web browser. If you do not consent to this you should cease using the Site or change the cookie settings on your computer to restrict their use.

Which cookies does the Site use?

The Site uses several analytics platforms to compile data about overall use of the site and optimise it based on what we learn about our users’ collective interests and habits. We do not study records of individuals users nor we use cookies to identify users or create profiles of natural persons. 


All rights reserved. Reproduction and dissemination of material contained on this microsite for educational or other non-commercial purposes are authorised without any prior written permission from the copyright holders, provided the source is fully acknowledged. Reproduction of material for resale or other commercial purposes is prohibited without the written permission of the copyright holders. Applications for such permission should be addressed to: Head, Marketing and Campaign Communications, EBRD, One Exchange Square, London EC2A 2JN, United Kingdom, or by email to: and

Note: Hyperlinks to non-EBRD websites do not imply any official endorsement of or responsibility for the opinions, ideas, data or products presented at these locations, or guarantee the validity of the information provided. The sole purpose of links to non-EBRD sites is to indicate further information available on related topics.

The materials in this website have been partially funded by UK aid from the UK government; however the views expressed do not necessarily reflect the UK government’s official policies. 

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.