Approval of New Governance Policies

On 7 May 2014, the EBRD Board of Directors approved revisions to three major governance policies: the Environmental and Social Policy, Public Information Policy, and Project Complaint Mechanism Rules of Procedure. The policies were greatly improved following an extensive consultation with stakeholders, including civil society organisations, industry associations, clients, other international financial institutions, and international organisations. Public meetings were held on the three draft policies in seven countries: Morocco, Ukraine, Georgia, Kazakhstan, Russia, Bulgaria and at EBRD headquarters in the UK.

The final approved policies are provided below. In addition, each policy has a comparison to the document that was disclosed in January 2014 for public comment, so that the changes may readily be seen. Each policy also provides a stakeholder engagement report on the comments received and the management responses to the comments. The new policies will enter into force on 7 November 2014.

 

Environmental and Social Policy

The final Environmental and Social Policy (2014) is below, along with the comparison to the January 2014 version. Over 640 comments were received and can be found in the stakeholder engagement report, comprising comments from the public meetings as well as written submissions. We thank everyone who took the time to comment on the draft policy and believe the final document is significantly improved as a result of the consultation.

A detailed ESP Stakeholder Engagement Plan outlines the stakeholder consultation process that was used.

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Public Information Policy (PIP)

The Public Information Policy (2014) is attached below. The comments and suggestions received during the public consultation, together with the Bank’s responses, is also attached. The new elements in the Policy respond to many of these comments and suggestions. We are grateful to all those who took part in the consultation process.

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Project Complaint Mechanism Rules of Procedure (PCM RPs)

The revised Project Complaint Mechanism Rules of Procedure (2014) is a result of extensive consultations, with over 200 stakeholders taking part in public consultation meetings and other 23 individuals and organisations submitting written comments. We thank all internal and external commentators for their valuable input into the review process which we believe resulted in a significantly improved final document.