Fraud and corruption - definitions and guidelines
‘Fraud and corruption - definitions and guidelines - The purpose of these guidelines is to clarify the meaning and interpretation of the terms “Corrupt Practices”, “Fraudulent Practices”, “Coercive Practices”, “Collusive Practices”, “Obstructive Practice”, “Theft” and “Misuse of the Bank’s Resources” in the context of a Bank Project”.
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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.
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Green Economy Transition Approach
The EBRD’s Green Economy Transition Approach reflects the needs of its countries of operations and increased focus on environmental sustainability in the context of the Sustainable Development Goals and COP21.
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Information Classification (IC)
The EBRD recognises the importance of the information that it handles, including information that it receives from and sends to its clients, partners and suppliers.
It also recognises the need to prevent the unauthorised disclosure of sensitive information both inside and outside the Bank.
We have therefore launched a new Information Classification (IC) Scheme.
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Integrity Risk Policy
The Bank’s Integrity Risks Policy and Terms of Reference for the Office of the Chief Compliance Officer
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Purchasing policy and procedures
The Internal Purchasing Policy and Procedures are designed to ensure that the purchase of all goods, services and works required for the satisfactory operation of the Bank Headquarters and Resident Offices is handled in a transparent, timely, efficient and effective manner with due regard to international purchasing best practice and the needs of individual user departments.
Political aspects of the EBRD mandate
The Agreement Establishing the European Bank for Reconstruction and Development includes a significant political element in that it specifies that the Bank may conduct its operations in countries of central and eastern Europe which not only are proceeding in their transition towards market-oriented economies, but also are applying principles of multiparty democracy and pluralism.
Soon after the Bank became operational its Board of Directors approved procedures to implement the political aspects of the Bank’s mandate in ways which recognise the critical link between the political and economic aspects of the Agreement.
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Procurement policies and rules
The EBRD's Procurement Policies and Rules are based on the fundamental principles of non-discrimination, fairness and transparency. They are designed to promote efficiency and effectiveness and to minimise credit risk in the implementation of the Bank's lending and investment operations.
Project Accountability Policy
The Project Accountability Policy describes the structure and procedures through which the new Independent Project Accountability Mechanism (IPAM) will:
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review environmental, social and transparency-related concerns regarding EBRD Projects;
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facilitate the resolution of issues among Project stakeholders;
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determine whether the Bank has complied with its Environmental and Social Policy and Access to Information Policy (and where applicable, address any existing non-compliance with these policies, while preventing future non-compliance by the Bank); and
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promote institutional learning.
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Purchasing policy and procedures
The Internal Purchasing Policy and Procedures are designed to ensure that the purchase of all goods, services and works required for the satisfactory operation of the Bank Headquarters and Resident Offices is handled in a transparent, timely, efficient and effective manner with due regard to international purchasing best practice and the needs of individual user departments.
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Risk Appetite Statement
The Risk Appetite Statement provides a comprehensive summary of Risk Appetite parameters guiding the EBRD’s operations. Its main purpose is to facilitate concise presentation and informed periodic review of the amount of risk the EBRD is prepared to take in its key activities.
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Secure Mail (Switch)
The EBRD recognises the importance of the information that it handles, including information that it receives from and sends to its clients, partners and suppliers.
It also recognises the need to prevent the unauthorised disclosure of sensitive information both inside and outside the Bank.
We have therefore implemented a new Secure Mail service called ‘Switch’ to enable the sending and receiving of sensitive data securely.
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EBRD statement on retaliation
The EBRD does not tolerate actions by EBRD clients or other project counterparties that amount to retaliation – including threats, intimidation, harassment, or violence – against those who voice their opinion regarding the activities of the EBRD or its clients.
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Strategic and Capital Framework
The Strategic and Capital Framework (SCF) 2021 - 2025 sets out the EBRD’s strategic aspirations for the period from 2021 to 2025 and confirms that the Bank has sufficient capital to support its proposed strategy even in the face of financial stress.
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Strategy Implementation Plan (SIP)
The Strategy Implementation Plan (SIP) translates the EBRD’s strategic directions into a three-year operational plan as to how the Bank will deliver on its transition mandate whilst safeguarding its financial sustainability and managing its resources in an efficient manner. The SIP for 2020-22 concludes the current Strategic and Capital Framework (SCF) period with a detailed delivery plan for 2020.
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Whistleblowing Policy
The EBRD Whistleblowing Policy provides a framework for reporting suspected misconduct, prohibited practices, unaddressed systems, processes and controls issues and integrity due diligence concerns.
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