Disclosure and transparency

The EBRD is committed to disclosure and transparency. Part of the Bank's own check on its record for good governance is its constant dialogue with shareholders as well as other stakeholders such as non-governmental organisations.

The process of self-review and dialogue has honed the main three policies that guide the Bank’s disclosure and transparency - the Public Information Policy, the Environmental and Social Policy and the Project Complaint Mechanism.

Public Information Policy

The Public Information Policy is the EBRD's main policy governing disclosure to the public.

It sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. At the same time, the PIP establishes clear lines of demarcation to distinguish information which is made publicly available (either on a routine basis or on the Bank's request) from information which may not be disclosed on the grounds of being confidential. This is to ensure that mutual trust is maintained between the Bank, its business clients and other partners.

Whenever possible, information concerning the Bank's activities is made available to the public unless there is a compelling reason for confidentiality. This openness promotes the Bank’s impact on transition in the region, improves the stability and efficiency of markets and encourages adherence to internationally recognised standards.

In the interests of greater transparency, the EBRD Board of Directors publishes its schedule of policy and strategy discussions on this web site as well as evaluation reports of projects.

Environmental and Social Policy

The EBRD promotes environmentally sound and sustainable development in all its activities. How the Bank should manage the impact of its operations on both people and the environment is mandated in its Environmental and Social Policy and Performance Requirements.

The policy details the environmental and social standards applicable to each project and describes the mechanisms used to appraise, monitor and report on a project's environmental and social performance. It is reviewed every five years to reflect changes in international standards and practice.

Transparency about the EBRD’s performance  is also achieved through the annual Sustainability Report. It includes data on environmental expenditure in the Bank's portfolio, the Bank's own environmental achievements, and greenhouse gas emissions in the EBRD's countries of operations.

The Project Complaint Mechanism

The Project Complaint Mechanism facilitates the processing of complaints regarding Bank-financed projects. The new Mechanism, launched in early 2010, replaces the Independent Recourse Mechanism (in force since July 2004) and is expected to enhance the accountability and transparency of the Bank’s operations.

Following a thorough process of review, including extensive public consultation, the new Project Complaint Mechanism includes features that make it more accessible and also strengthen the Bank’s ability to monitor clients’ commitment to relevant EBRD policies.

In particular, the new Mechanism benefits from an improved and more user-friendly registration system and wider universe of potential complainants – the Mechanism is now open to individuals, groups and civil society organisations directly located or having interests in the area of an EBRD-funded project.

The Mechanism also provides more opportunities for consultations with all relevant parties and publication of monitoring reports. To further increase the independence of the Mechanism the Bank has appointed a dedicated Project Complaint Mechanism Officer who is responsible for the day-to-day administration of the Mechanism.

Requests for information, concerns and complaints regarding activities funded by the EBRD can be sent to pcm@ebrd.com.

Last updated 25 May 2010