Second submission to the European Investment Banks public consultation on its anti-corruption policy

Policy comments    |    13 September 2007

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This submission complements the first one presented by the above organisations during the first round of public consultation on the European Investment Banks new policy on anti-fraud and anti-corruption matters. Although the EIB recognises the complexity of anti-corruption issues and the need to bring in external consultants or relevant European institutions, it is unclear how this will be reflected in the policy which the EIB aims to finalize before the end of the year. It seems that the Bank favours a rapid conclusion to the consultation over a stringent and effective anti-corruption policy, an approach regarded as unnecessarily rushed given the complexity of the outstanding issues. To such an extent, the EIB should take advantage of its unique blending of development and commercial objectives to become a frontrunner and develop its own pro-active approach to fight corruption that goes well beyond the Singapore commitments. It is likewise urged that the EIB to adopt a pro-active policy which goes far beyond the minimum legal provisions binding EIB operations.