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The EBRD is committed to enhancing transparency and accountability and fostering good governance in all its activities, so as to promote economically and environmentally sustainable transition in its countries of operations, with emphasis on the private sector.
The Public information policy (PIP) 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 upon 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.
The policy is founded on the following principles:
The EBRD is guided by the underlying presumption that, whenever possible, information concerning the Bank’s operational and institutional activities will be made available to the public in the absence of a compelling reason for confidentiality.
Openness helps to promote the Bank’s impact on transition in its countries of operations. In order to support the principle of transparency, the Bank seeks to provide accurate and timely information regarding its operational activities. Furthermore, by providing information to economic decision-makers the Bank also helps to improve the stability and efficiency of markets, and promotes adherence to internationally-recognised standards.
Accountability and governance
The EBRD is committed to reinforcing its accountability to shareholders, and to ensuring high standards of corporate governance.
As an international financial institution, entrusted with public monies to promote transition in its countries of operations, the Bank is accountable to its shareholders who remain at the heart of policy design and strategic decision-making.
The Bank has a number of mechanisms to enhance accountability and governance. The Office of the Chief Compliance Officer (OCCO) is responsible for: investigating allegations of fraud and corruption both internal as well as external to the Bank; identifying and handling of reputational risks to the Bank; and ensuring that the Bank operates to the highest ethical standards. The Bank’s Independent Recourse Mechanism (IRM) allows members of the public, in certain circumstances, to file complaints with the Bank with respect to Bank financed projects. The Evaluation Department (EvD) provides independent evaluations of the implementation of projects undertaken by the Bank and its sectoral and operational Strategies, with sole accountability to the Board of Directors.
Willing to listen and receptive to comment
Through its commitment to open communication, the Bank demonstrates its willingness to listen to third parties so as to benefit from their contributions to its work in fulfilling its mandate.
The policy seeks to broaden and deepen the Bank’s relationship with all stakeholders, taking into account the different nature and significance of specific interests and pursuits. The inter-action with external stakeholders, given their diverse interests, their large number and their global spread, will be flexible.
Safeguarding the business approach to implementing the mandate
A business-sensitive partnership with sponsors and contractual counterparties is necessary to allay concerns about client confidentiality which could affect their willingness to work with the Bank.
As a financial institution, with the majority of its operations in the private sector, the Bank must maintain the confidence and trust of its clients and co-financiers. A business-sensitive approach is necessary to allay concerns about the treatment of confidential information which, otherwise, could affect these partners’ willingness to work with the Bank. The Bank’s approach in this regard is governed by the clarifications regarding confidential information.
Report on implementation of the Public Information Policy
The EBRD’s Public Information Policy commits the Bank's management to report to the Board of Directors on an annual basis on implementation of the Public Information Policy, with the findings to be made available on this website. In the interests of clarity and consistency the report addresses each PIP obligation and its implementation in the order in which these appear in the policy.
Last updated 3 June 2010