Accessibility links

Breaking News

Central/Eastern Europe: EBRD Urges Sound Business Standards

Prague, 15 October 1997 (RFE/RL) -- The European Bank for Reconstruction and Development (EBRD) today released guidelines to help firms in Eastern and Central Europe, as well as the former Soviet Union, to understand the concerns of western lenders and investors.

The EBRD says the guidelines cover not only issues of corporate governance, but also companies' relationships with their clients, suppliers, local communities and governments.

EBRD Deputy Vice President Guy de Selliers said in a statement issued in London that governments also must help create a business environment that rewards companies with sound business standards and that penalizes those which do not.

The statement says fair and realistic laws must be implemented. It also urges governments to strengthen the efficiency and impartiality of their judicial systems.