The European Bank for Reconstruction and Development was established in 1991.  The purpose of the Bank is to foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiatives in Central and Eastern Europe.  The EBRD, through investment initiatives, helps build market economies and democracies in 27 countries from Central Europe to Central Asia.

The EBRD’s Technical Cooperation Funds Programme (EBRD TCF) is financed through voluntary grants from donors.  These funds are used to finance consultants carrying out work in support of the transition to market economy in the Bank’s countries of operations. To date the Technical Cooperation Fund is in receipt of €947 million. The Irish EBRD TCF was established in 1993. Since then, Irish Aid has contributed approximately €2 million to the Fund.