The European Bank for Reconstruction and Development (EBRD) is an international financial institution. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. Initially focused on the countries of the former Eastern Bloc it expanded to support development in countries from central Europe to central Asia. The Bank offers project financing for banks, industries, and businesses, for new ventures or existing companies. EBRD works with publicly owned companies to support their privatization, and improvement of municipal services. The Bank promotes environmentally sound and sustainable development and does not finance defense-related activities, the tobacco industry, selected alcoholic products, substances banned by international law and stand-alone gambling facilities.