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 Principles
All 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 Committee

External auditors

Inspector General: Internal Audit + Operations Evaluation

Internal Control Frameworks
European Court of Auditors

OLAF

European Ombudsman

Risk Management

Compliance 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 Directives
vs

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

Transparency in the EIB

Daniela WORTMANN

1999-03-16T13:04:27