EBRD approves new disclosure policy
22 May 2006
On May 16, the Board of the European Bank for Reconstruction and Development (EBRD) approved new transparency requirements for the institution. Little progress has been made...
On May 16, the Board of the European Bank for Reconstruction and Development (EBRD) approved new transparency requirements for the institution. While some improvements have been made, the new policy does not incorporate many of the recommendations provided by the Global Transparency Intiative (GTI).
Among other improvements, the EBRD's new Public Information Policy (PIP) requires the disclosure of:
- salaries for EBRD management, Executive Directors and Alternate Directors;
- draft Country Strategies;
- a list of policies and strategies to be reviewed in the upcoming 12-months;
- a "black-list" of clients found to have engaged in corruption; and
- project summary documents translated into official national languages.
However, the PIP fails to incorporate several importanct civil society recommendations based on the GTI's Charter of IFI Transparency Principles, currently being developed. Among other things, the PIP does not:
- review all disclosure exceptions to ensure that they apply only where disclosure poses a serious risk of harm to a legitimate secrecy interest;
- establish an independent appeals process for disclosure policy complaints; and
- increase transparency of the Board of Directors by disclosing contact information or transcripts of Board meetings.
Background on the review process: On March 1, 2006, the EBRD announced a review of its Public Information Policy. A draft PIP was available on the Bank's website for public comment until April 28 - a deadline which was extended from an original closing date of April 14. Members of the GTI went to EBRD headquarters during the last week of April in order to meet face-to-face with Bank decision-makers.
EBRD Documents
Civil Society Comments
- GTI Advocacy Notes to the EBRD, May 3, 2006 (GTI website)
- Comments from the Global Transparency Iniative on the EBRD's draft Public Information Policy, April 14, 2006 (GTI website)
- Comments from CEE Bankwatch Network on EBRD draft PIP April 12, 2006 (CEE Bankwatch website)
- BIC letter regarding EBRD PIP review process, April 12, 2006 (BIC website)
- Policy letter to EBRD regarding PIP review process April 7, 2006 (CEE Bankwatch website)
- GTI Letter to EBRD, February 20, 2006 (GTI website)