Civil Society Library
Skip Navigation LinksCSL home > Library > Document

EIB’S TRANSPARENCY PERFORMANCE

w

EIB’s Transparency Performance

46, pdf
 Download Back



EIB’s Transparency Performance



Publisher: CEE Bankwatch Network

Date: May, 2007

Volume: 46 pages, pdf

Description

A s a financial institution of the EU, the European Investment Bank should be subject to European legislation, including this on access to information and public participation. However, for decades the EIB has acted as an independent bank responding mainly to its clients and remained largely unknown to the general public. This situation is changing now. In 2006 the EIB organised its first-ever public consultation process for a review of its Public Disclosure Policy. As access to information on the EIB's operations is a prerequisite for public involvement in decision- making and for good governance over public funds, more than 30 civil society groups actively engaged in the process which resulted in positive features in the policy document. This was an important step in the right direction for the EU's multi-billion euro lending house bank which had been lagging for many years behind other international financial institutions in terms of transparency.