Transparency in the EIB

EIB and Information policy

Roundtable meeting

29 June 2005

“We have changed our perception of the EIB

and the EIB has changed its own

perception of its responsibilities “

M. Alain Lipietz, MEP, 7th March 2005

Transparency in the EIB

Transparency in the EIB

EIB Strategy

• New transparency policy published June 2004• Public consultation on Disclosure and Information Policy Review

May 2005

Transparency in the EIB

A cultural change

Recent developments:  

• Transparency action plan based on the EIB Board of Directors’ decision of June 15th, 2004 : 87 % achieved

• In 18 months, an increase of 50% in the stock of documents disclosed through the EIB website www.eib.org

• Governance, strategy, policy, operations, finance

Transparency in the EIB

Publishing the Corporate Operational Plan

• Is distributed to each member of staff

• Is published on the website

• Translates strategic objectives into priority initiatives

• Presents operational priorities, indicators and targets

• Presents the allocation of resources

Transparency in the EIB

Fighting fraud,

corruption and money laundering

Antifraud policy including whistleblower protection

Close cooperation with OLAF

• Creation of an Inspection panel for citizens who cannot access the European Ombudsman

Transparency in the EIB

The Bank in the EU institutional set-up : Environment

• High on the agenda• A high level of lending : 35 % of individual loans in 2004

or EUR 10.4bn• Applying the highest environmental standards :

the case of the Equator PrinciplesAll point source emission limits and ambient pollution standards are stricter in the EU Directives

We intend to join forces with the Commission and others and promote the EU agenda on this matter

Transparency in the EIB

Publishing the

Annual Report of the Audit Committee

Transparency in the EIB

Controls & Evaluation

Audit CommitteeExternal auditors

Inspector General: Internal Audit + Operations Evaluation Internal Control Frameworks

European Court of AuditorsOLAF

European Ombudsman

Risk ManagementCompliance Office

Management Control Basel II

Transparency in the EIB

Governance

Statement on Governance at EIB

Corporate Social Responsibility

Transparency in the EIB

Dialogue with the European Parliament and the Economic and Social Committee

• Cooperation with the Assembly and Committees

• Report on implementation of European Parliament resolutions on EIB activity

• Economic and Social Committee

Transparency in the EIB

Sound financial practices

• EIB at the forefront

• Addressing the right of citizens to transparent and clear financial information

• EIB early adopter of international standards

• Transparency as a discipline for good management

Transparency in the EIB

The difficult tasks of promoting Europe

European Directivesvs

Equator Principles

Transparency in the EIB

Public Consultation

Objective: Highest level of transparency

Through its various financial activities the Bank ultimately delivers a service to European citizens

Consequently we want to better explain these activities, enhance the perceived value of its operations, strengthen support

by decision-makers and shapers

Tools: Increased transparency – Information and Disclosure

Transparency in the EIB

Public Consultation  

Trade-off between EIB’s objectives :

• provide as much information as possible to all interested parties

• legal duty to protect the private and market-sensitive interests of business counterparts

EIB wants to remain a lean institution: efficiency is important for its customers, its shareholders, the European citizen

and all other stakeholders

Transparency in the EIB

Aarhus

• EIB supports Aarhus

• EIB will apply the Regulation

• Our disclosure policy will reflect the Aarhus Regulation

Transparency in the EIB

A Bank and a European Institution

A European Institution and a Bank

Transparency in the EIB

Disclosure and Information Policy Review

A public consultation

www.eib.org

Transparency in the EIB