CEB, EBRD and EIB streamline procurement rules for joint projects

Washington, D.C. – The Council of Europe Development Bank (CEB), the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) have signed a tripartite Mutual Reliance Agreement, to streamline procurement in public sector projects they co‑finance outside the European Union, strengthening cooperation, efficiency and integrity.

Signed on the margins of the World Bank Group-IMF Spring Meetings in Washington, D.C., the agreement builds on existing bilateral arrangements among the three multilateral development banks (MDBs) and marks a further step in strengthening their cooperation, advancing the system-wide approach promoted under the G20 Roadmap for Better, Bigger and More Effective MDBs.

The framework will make it easier for the three institutions to co-finance public sector projects outside the European Union by reducing duplication and streamlining administrative processes. Under the agreement, one institution can act as lead financier for each project, allowing the others to rely on its procedures for procurement and safeguards, hence reducing duplication and increasing efficiency.

For partner countries and project promoters, this agreement means simpler requirements and faster access to financing and expertise, while fully respecting each MDBs’ policies and decision‑making autonomy. The agreement also introduces a joint Covenant of Integrity, to be applied across co-financed projects, ensuring consistent high standards of transparency and accountability.

“This agreement marks yet another concrete step towards MDBs working more effectively as a system,” said CEB Governor Carlo Monticelli. “By simplifying how we work together we can deliver faster and increase our impact where it matters most.”

“By strengthening our partnership, we can make our processes far more efficient and make a real difference to the service we offer our clients in the countries where we work,” said Fatoumata Bouaré, the EBRD’s Vice President, Chief Risk Officer.

“By joining forces to streamline procurement for joint projects, we help partner countries outside the EU deliver faster and at lower cost,” said EIB Vice‑President Ambroise Fayolle. “This is multilateral development banks working together, focusing on real results on the ground, while maintaining high standards and safeguards.”