Highlights
[Highlight] New NGO road map points the way to a more transparent EIB
(November 9, 2009)
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In parallel to a second round of consultations on the European Investment Bank’s Transparency Policy, Bankwatch together with the NGO Client Earth announced today the publication of a model transparency policy for the EIB that would set the bank on much more assured ground towards becoming an open and inclusive institution.
The aim of the new model policy is to, within the framework of EU legislation, give the public access to information on the functioning of the EIB and its operations both inside and outside the EU.
According to Anna Roggenbuck, Bankwatch's EIB coordinator: “At a time when there’s high public concern about and political will for increasing the transparency of international finance, with this model policy we aim to overcome the biggest deficiency in the current EIB policy, namely providing the public with access to and timely disclosure of environmental information about the projects it finances. Based on the procedures and practices of the Council of the EU, we are also proposing solutions for better transparency of the EIB’s own governing bodies.”
The model policy has at its core a ‘presumption of information disclosure’, in line with the concept of making the EU more accessible to people, and where decisions are taken as openly as possible. The model policy is based on previous EIB disclosure policies as well as different provisions that provide information to citizens from different EU bodies.
Specifically, the model policy refers to Regulation 1049/2001 regarding public access to European Parliament, Council and Commission documents, as well as to Regulation 1367/2006 on the application of the provisions of the Aarhus Convention on Access to Information, Public Participation in Decision-making and Access to Justice in Environmental Matters to Community institutions and bodies
When preparing this model policy, Bankwatch and Client Earth also referenced best practice identified at other international financial institutions, particularly the World Bank, the International Finance Corporation and the European Bank for Reconstruction and Development.
The aim of the new model policy is to, within the framework of EU legislation, give the public access to information on the functioning of the EIB and its operations both inside and outside the EU.
According to Anna Roggenbuck, Bankwatch's EIB coordinator: “At a time when there’s high public concern about and political will for increasing the transparency of international finance, with this model policy we aim to overcome the biggest deficiency in the current EIB policy, namely providing the public with access to and timely disclosure of environmental information about the projects it finances. Based on the procedures and practices of the Council of the EU, we are also proposing solutions for better transparency of the EIB’s own governing bodies.”
The model policy has at its core a ‘presumption of information disclosure’, in line with the concept of making the EU more accessible to people, and where decisions are taken as openly as possible. The model policy is based on previous EIB disclosure policies as well as different provisions that provide information to citizens from different EU bodies.
Specifically, the model policy refers to Regulation 1049/2001 regarding public access to European Parliament, Council and Commission documents, as well as to Regulation 1367/2006 on the application of the provisions of the Aarhus Convention on Access to Information, Public Participation in Decision-making and Access to Justice in Environmental Matters to Community institutions and bodies
When preparing this model policy, Bankwatch and Client Earth also referenced best practice identified at other international financial institutions, particularly the World Bank, the International Finance Corporation and the European Bank for Reconstruction and Development.
CEE Bankwatch Network gratefully acknowledges EU funding support.