Cap. 347 Art. 7Language of Schedule.

The Schedule to this Act shall be in the English language only, and such text shall apply also to the Maltese text of the Act. SCHEDULE

(ARTICLE 2)

AGREEMENT ESTABLISHING THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT

The contracting parties, Committed to the fundamental principles of multiparty democracy, respect for human rights and market economics; Recalling the Final Act of the Helsinki Conference on Security and Europe, and in particular its Declaration on Principles; Welcoming the intent of Central and Eastern European countries practical implementation of multiparty democracy, strengthening institutions, the rule of law and respect for human rights and their implement reforms in order to evolve towards market-oriented economies;

Considering the importance of close and coordinated cooperation promote the economic progress of Central and Eastern European countries their economies become more internationally competitive and assist reconstruction and development and thus to reduce, where appropriate, related to the financing of their economies; Convinced that the establishment of a multilateral financial institution European in its basic character and broadly international in its membership help serve these ends and would constitute a new and unique structure in Europe;

Have agreed to establish hereby the European Bank for Reconstruction Development (hereinafter called " the Bank") which shall operate in accordance the following: CHAPTER I

PURPOSE, FUNCTIONS AND MEMBERSHIP

Article 1 PURPOSE

In contributing to economic progress and reconstruction, the purpose shall be to foster the transition towards open market-oriented economies private and entrepreneurial initiative in the Central and Eastern European committed to and applying the principles of multiparty democracy, pluralism economics.

Subject to the same conditions, the purpose of the Bank may also be carried Mongolia; (ii) member countries of the Southern and Eastern Mediterranean; limited number of member countries of sub-Saharan Africa; in each case

(iii) as determined by the Bank upon the affirmative vote of not less than the Governors, representing not less than three-fourths of the total voting members. Accordingly, any reference in this Agreement and its annexes European countries", "countries from Central and Eastern Europe", "recipient countries)" or "recipient member country (or countries)" shall refer to each of such countries of the Southern and Eastern Mediterranean and Africa as well.

Article 2

FUNCTIONS

fulfil on a long-term basis its purpose of fostering the transition of Eastern European countries towards open market-oriented economies promotion of private and entrepreneurial initiative, the Bank shall assist the member countries to implement structural and sectoral economic reforms, demonopolization, decentralization and privatization, to help their become fully integrated into the international economy by measures: to promote, through private and other interested investors, the improvement and expansion of productive, competitive and private in particular small and medium sized enterprises; to mobilize domestic and foreign capital and experienced management described in (i); to foster productive investment, including in the service and financial in related infrastructure where that is necessary to support private and initiative, thereby assisting in making a competitive environment and productivity, the standard of living and conditions of labour; to provide technical assistance for the preparation, financing and implementation of relevant projects, whether individual or in the context of specific programmes; to stimulate and encourage the development of capital markets; to give support to sound and economically viable projects involving recipient member country; to promote in the full range of its activities environmentally sound and development; and to undertake such other activities and provide such other services as these functions. carrying out the functions referred to in paragraph 1 of this Article, the work in close cooperation with all its members and, in such manner as it appropriate within the terms of this Agreement, with the International Fund, the International Bank for Reconstruction and Development, the Finance Corporation, the Multilateral Investment Guarantee Agency, Organisation for Economic Cooperation and Development, and shall the United Nations and its Specialised Agencies and other related any entity, whether public or private, concerned with the economic of, and investment in, Central and Eastern European countries. Article 3

MEMBERSHIP