News
CEB and EIB host MDB Private Sector Integrity meeting
16 March 2016
PARIS - The Council of Europe Development Bank (CEB)
and the European Investment Bank (EIB) co-hosted the annual meeting of the
Heads of Compliance and Integrity Functions of Multilateral Development Banks
(MDB) at the CEB headquarters in Paris on 14-15 March.
Representatives from 14 MDBs in Europe, the Americas, the Caribbean, Asia and Africa discussed recent developments in the field, including integrity due diligence in the private sector and non-sovereign guaranteed operations; the international tax agenda and implications for operations; and best practices for ensuring consistent treatment of integrity issues across MDBs.
Launched in 2010, the meeting has become an annual event involving the Compliance and Integrity Functions of the MDBs. Its purpose is to foster exchange of information, improve responsiveness to compliance issues, and establish closer working contacts.
In his opening address, Governor Rolf Wenzel said: “Harmonising integrity enforcement and monitoring across regions is crucial to strengthening compliance and ensuring that we remain relentless in our common fight against harmful tax practices and corruption. Meetings such as this are instrumental in that respect, and I am delighted that the CEB is welcoming today MDB representatives from all around the world for this year’s annual conference.”
“International public banks must not only demonstrate a shared commitment to fighting corruption, tax avoidance, money laundering and financing terrorism, but continually build on shared technical, financial and regulatory experience gained across different sectors and from around the world. The European Investment Bank firmly shares this common resolve with the world’s leading Multilateral Development Banks and other financial partners, and is pleased to jointly host this year’s compliance and integrity meeting with the Council of Europe Development Bank,” said Jonathan Taylor, European Investment Bank Vice President.
Set up in 1956, the CEB (Council of Europe Development Bank) has 41 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank's target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (Aa1 with Moody's, outlook stable, AA+ with Standard & Poor's, outlook stable and AA+ with Fitch Ratings, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.