EBRD Core Principles for a Modern Concessions Law - selection and justification of principles

The EBRD Core Principles for a Modern Concessions Law (the Core Principles) underpin the EBRD’s design of legal reform projects in the area of concessions/Public Private Partnership (PPP). The purpose of the Core Principles is to identify and promote sound modern principles of concessions laws in the EBRD’s countries of operations. By promoting clearness, fairness, stability, predictability and flexibility among their major objectives, the Core Principles aim to protect both investors and the public sector from unfair treatment and abuses. The Core Principles are based on maximum transparency of procedures, thus ensuring benefits to all parties. They were first published on the Bank’s web site in January 2005 as a discussion paper soliciting public comments, and now appear in their final version.

The present paper is aimed at explaining the meaning of the Core Principles and the sources from which they were derived. This paper may be read in conjunction with, and complemented by a [draft] paper prepared by the EBRD Banking Department in July 2006 and entitled Public Private Partnerships and EBRD Discussion Paper, which provides an overview of various forms of PSP from a banking/financing standpoint.

Further information on the Core Principles, along with their text in English, Russian and French, may be found on the EBRD’s website