Public Consultation on Anti-fraud and Anti-Corruption Policy Review

The EIB is in the process of reviewing its policy, guidelines and procedures on fighting corruption, fraud, money laundering and the financing of terrorism.

In line with the Bank’s Transparency Policy, the review includes public consultation, for which the second round was completed on 13 September 2007. The Bank is now evaluating stakeholder contributions and will draw up a modified policy taking account of the proposals from both rounds.

The EIB has received consent to publish the 2nd round contributions from Luis Socorro, Sope Willians, Roderick Dunnett, Transparency International, NGO Coalition and Protimos and CBRM.

Following the completion of the second round of stakeholder consultations, the EIB is close to finalising the review process. The final draft policy and procedures will be forwarded for approval to the EIB Management Committee in the course of January. Thereafter, the draft documents, along with the Consultation Report and Matrix of Comments, will be published for information on the EIB website three weeks prior to consideration by the EIB Board of Directors.

Next steps

The stakeholder comments received during the second round will be analysed by the Bank’s Review Panel to see the extent to which they can be taken into account.

The revised draft policy and the Public Consultation Report will be send for approval to the Bank’s Management Committee. The Consultation Report will include a summary of the consultation process and a list of public contributions together with the Bank’s reasoned comments.

After approval by the Management Committee, the final draft will be published, for information, on the EIB website three weeks prior to consideration by the EIB Board of Directors, together with a Public Consultation Report.

After approval by the Board of Directors, and, if applicable, the Board of Governors, the revised Anti-Fraud Policy and Procedures and the Public Consultation Report will be published on the Bank’s website.