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History of PFS

The Partners for Financial Stability Program was created in 1999 to support the economic transition of eight Central & Eastern European (CEE) countries: Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, and Slovenia. PFS focused specifically on promoting financial sector development through short-term, demand-driven activities that strengthened institutions and market participants that were seeking to meet international standards of best practice.

In 2005, PFS moved its activities to Southeast Europe (SEE) and expanded into Ukraine and Kazakhstan and then to other parts of the former Soviet Union in 2007.  The current regional scope of PFS came into effect in 2010.

During its first 10 years, PFS focused on developing the financial market laws, policies and practices that were important for the partner countries in fulfilling the requirements of the European Union and other key international standards in the financial sector. The new PFS program builds upon previous experience and continues to work in these important areas.

Addressing the spread of the recent global financial and economic crisis to the E&E Region, PFS plays an important role in attending to the challenges that remain within the financial systems in the region.

View the past PFS Program websites here: