EN Official Journal of the European Union C 332/45

PUBLIC DISCLOSURE POLICY

Principles, rules, and procedures

(2006/C 332/11)

INTRODUCTION

Review of the Public Disclosure Policy

1. The European Investment Bank (EIB) is fully committed to openness and transparency as outlined in its Transparency Policy, published in June 2004 (www.eib.org/publications/publication.asp?publ=152).

2. Following a public consultation process, the present EIB Public Disclosure Policy was approved by the EIB Board of Directors on 28 March 2006 and published in the Official Journal of the European Union (1). It supersedes the Bank's previous information policy, which was published in 2002 under the title of ‘Public Access to Information’, and its attached ‘Rules on Public Access to Documents’. The Public Disclosure Policy is available in all official languages of the European Union, both on the EIB's website and as a paper copy.

3. The Bank regards its Public Disclosure Policy as an evolving and flexible instrument, subject to a continuous process of internal evaluation and quality assessment and responsive to public comment. Formal reviews of the disclosure policy will take place every three years. The EIB also maintains a dedicated mailbox on its website (infopol@eib.org) to receive comments throughout the year.

4. In addition, the EIB constantly reviews legal and regulatory disclosure requirements applicable to the international capital markets and their impact on its Public Disclosure Policy.

5. The Public Disclosure Policy is one of the policies and codes that have been drawn up to cover all aspects of EIB activities. Of particular relevance, when considering the Disclosure Policy, are the policies covering transparency, environmental and social issues, corporate responsibility, and governance, including those for anti-corruption and fraud. They can all be found on the EIB website.

The policy framework

6. The EIB is a body of the European Union. Its Statute defines the Bank's role, scope of activities and governance structures and is a Protocol attached to the Treaty of Rome establishing the European Community. The Statute establishes the EU Member States as the EIB's shareholders. The Member States nominate members for the Bank's principal decision-making bodies: the Board of Governors, Board of Directors and the Management Committee. Through the governments of the EU Member States, the Bank is accountable to the citizens of the Union.

7. The Bank has an extensive control and accounting structure with an independent Audit Committee appointed by and reporting directly to the Board of Governors, as well as international external auditors, internal audit and evaluation functions under its Inspector General. The EIB Group's Chief Compliance Officer ensures the internal observance of the Bank's statutory provisions, applicable rules, Codes of Conduct and professional standards, to prevent risks that might arise through failures by the Bank, its decision-making bodies or members of staff, in the discharge of their obligations (2).

8. The EIB is policy-driven. The European Council of Heads of State or Government and the EU Council of Ministers frequently call on the Bank to support new EU policies and initiatives. The Bank's Board of Governors adapts EIB lending policies through new credit directives, opening up new areas of activities to enable the Bank to promote EU policies.

9. The EIB has close institutional and operational links with the European Commission. Under the terms of the EIB Statute, the Commission nominates a Member to the Bank's Board of Directors. All applications for loans are submitted to the Commission for an opinion on the investment's conformity with EU policies, before financing approval by the EIB Board of Directors.

10. The Bank has also close relationships with other EU institutions. It maintains a regular dialogue with the European Parliament on its activities in support of EU objectives. This dialogue ranges from addressing plenary sessions to briefings for committees and individual Members of Parliament.

11. In addition, the Bank is forging closer links with the Economic and Social Committee of the EU, which acts as an interface between the EU institutions and civil society. As part of the EU institutional framework, the Bank is subject to the jurisdiction of the Court of Justice of the European Communities, while the European Court of Auditors examines the use of EU funds managed by the Bank. The EIB has an agreement with OLAF (the European Anti-Fraud Office), and is subject to the remit of the European Ombudsman.

12. The Treaty establishing the European Community and the EIB's Statute provide the Bank with operational and financial autonomy to enable it to perform effectively as a financial institution. The EIB is an important partner in the financial sector, especially when borrowing on the capital markets and financing projects. It works also closely with International Financing Institutions (IFIs) and Multilateral Development Banks (MDBs), in particular when it operates in the framework of the development aid and external co-operation policies of the EU.

13. The Bank ensures that its activities respect EU policies and laws. In countries where these are not applicable, the Bank uses EU policies and laws as the best reference when carrying out its activities. In its day-to-day operations the Bank also takes into account standards and practices applied by the banking and financial community, particularly in areas not covered directly by EU law.

THE POLICY

Policy objectives and legal framework

Transparency

14. Improvement in the transparency of its institutions and bodies is a key European Union policy aimed at bringing them closer to the publics they serve, as well as highlighting their relevance in contributing to Europe's social and economic cohesion and sustainable development.

15. As an EU body, the EIB is committed to achieving the highest possible level of transparency in all its activities. The Public Disclosure Policy forms a crucial reference for implementing its transparency policy. Regulation EC/1049/2001 (3) on Public Access to European Parliament, Council and Commission documents is a key reference for the Bank's disclosure policy (4).

16. The EIB considers that as a public institution, openness and transparency on how it makes decisions, works and implements EU policies, strengthen its credibility and its accountability to Europe's citizens.

17. Openness and transparency also contribute to increasing the efficiency and sustainability of the Bank's operations, reducing the risks of corruption, and enhancing staff relations with external stakeholders.

Disclosure of information

18. The Disclosure Policy reflects the Bank's commitment to comply with EU policy initiatives on transparency and public disclosure of information.

19. The Disclosure Policy also operates within a framework established at an EU level covering human rights, democracy, and rule of law in countries and regions in which the Bank operates. On environmental issues it is guided by EU law and regulations, including those for assessing the impact of projects it supports to help meet the challenges of achieving sustainable development. In its financing operations, the Bank recognises the rights, interests and responsibilities of stakeholders to achieve sustainable outcomes.

20. The EIB will also respect the tenor, aims, and provisions of the ‘European Parliament and Council Regulation 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 EC institutions and bodies’ (the Aarhus Regulation).

21. The EIB is fully committed to transparency towards capital markets. Its disclosure requirements and limitations vary depending on the legal and regulatory regimes of markets where the Bank's securities are offered. The Bank avoids selective disclosure to ensure all parties have a fair access to its information.

Policy considerations

Presumption of disclosure

22. The EIB's disclosure policy is founded on a presumption of disclosure of information, in line with EU legislation, those of the EU Member States, and internationally accepted principles. All information held by the Bank is subject to disclosure upon request, unless there is a compelling reason for non-disclosure. As the EIB operates as a bank, there are certain constraints on information it discloses (see Constraints below).

23. Every member of the public has the right to request and receive information from the EIB. When considering a request for information, the Bank does not discriminate or give special privileged access to information. It applies equal treatment towards enquiries from the public, whether from individual citizens and legal persons or special interest groups.

24. To promote the accessibility of information, the Bank is committed to a language regime that responds to public needs. EIB's statutory documents are available in all official EU languages. Other key documents with a particular importance for the public, such as ‘Codes of Conduct’, are also published in all official EU languages, while others are available in, at least, English, French and German. Translation into other languages can be considered whenever a wide interest arises for a particular document. The EIB requires its staff members to ensure, where possible, that citizens writing to the Bank in one of the EU languages receive a reply in the same language.

Constraints

25. While the Bank is committed to a policy of presumption of disclosure and transparency, it also has a duty to respect professional secrecy, in compliance with European laws, in particular Article 287 of the Treaty establishing the European Community (5), as well as legislation to protect personal data. National regulations and banking sector standards covering business contracts and market activity may also apply to the EIB. There are therefore certain constraints on disclosure of information.

26. Access shall be refused where disclosure would undermine the protection of: — the public interest, as regards international relations or the financial, monetary or economic policy of the EU, its institutions and bodies or a Member State; — privacy and the integrity of the individual, in particular in accordance with EU legislation regarding the protection of personal data.

27. Unless there is an overriding public interest, access to information will also be refused where disclosure would undermine the protection of: — court proceedings and legal advice; — the purpose of inspections, investigations and audits; — commercial interests of a natural or legal person, including intellectual property; — integrity of the Bank's internal decision-making process.

28. Information typically forming part of the Bank's confidential relationship with its business partners includes the financing request by a project promoter, loan pricing information, and the Finance Contract. The Bank does not object to project promoters, borrowers, or other competent parties making information available on their relationship and arrangements with the EIB.

29. Business partners are made aware of the EIB's Public Disclosure Policy at an early stage in discussions.

30. The ‘Proposal from the Management Committee to the Board of Directors’ for financing a project is not released before approval by the Board of Directors. — For public sector projects, the proposal from the Management Committee will be disclosed on request. The Board may decide not to disclose a financing proposal in a commercially sensitive case. — For private sector projects, information designated by the Bank's private sector counterparts as confidential cannot be disclosed.

31. All public sector projects are included on the Project List on the Bank's website prior to Board approval, as are all private sector projects when there has been a call for international tender published in the Official Journal of the European Union and/or which have been subject to an Environmental Impact Assessment (EIA). However, certain private sector projects are not published before Board approval and, in some cases, not before loan signature to protect justified commercial interests.

32. Constraints also cover information on allocations made by local banks to support investment by their own customers under global loan arrangements with the EIB. This information falls within the competence of the intermediary bank as part of the normal business relationship between a bank and its customers (6). However, the EIB has no objection to the intermediary bank making available information covering its relationship with the EIB.

33. With respect to borrowing operations, publicity is restricted for private issuance for confidentiality reasons. The Bank discloses certain aggregate information on investor and secondary market activity. Confidential information relating to individual investors or banks will not be disclosed. The Bank will however seek to encourage transparency in its issues wherever possible.

34. As regards third-party documents, the Bank shall consult with the third party to assess whether information in the document is confidential, unless it is clear that the document shall or shall not be disclosed.

35. Constraints on disclosure to protect the integrity of the Bank's internal decision-making process are to allow a frank and open internal exchange of views and evaluations. Documents, which contain opinions for internal use as part of deliberations and preliminary consultations, such as the Preliminary Information Note (7), the proposal to authorise appraisal, the request for an opinion of the European Commission or EU Member States, and the proposal to negotiate the operation, are not disclosed. This also applies to the minutes of the Management Committee or Boards of Directors and Governors.

36. If only parts of a requested document are covered by any of the constraints above, information from the remaining parts shall be released.

37. The constraints shall only apply for the period during which protection is justified on the basis of the content of the document. The exceptions may apply for a maximum period of 30 years. In the case of documents covered by the exceptions relating to privacy, commercial interests or the integrity of the Bank's internal decision-making process, the exceptions may, if necessary, continue to apply after this period.

European Investment Fund

38. The Public Disclosure Policy's general principles apply to the EIB Group as a whole, which consists of the EIB and the ‘European Investment Fund’ (EIF) (www.eif.org). The EIF is the Group's venture capital and small and medium sized enterprise guarantee vehicle. Specific rules on public access to EIF documents are drawn up and published separately.

Accountability, implementation, and evaluation

39. The disclosure policy is subject to continuous internal evaluation and quality assessment under the direction of the Bank's Management Committee.

40. As staff support and commitment is indispensable for the successful implementation of its Disclosure Policy, the Bank runs awareness-building sessions for staff members on transparency and disclosure issues, dialogue with stakeholders, corporate social responsibility and other related topics.

41. Formal reviews of the disclosure policy will take place every three years. The EIB maintains a dedicated mailbox on its website (infopol@eib.org) to receive comments throughout the year.

42. The public can follow the extent to which the EIB achieves its objectives in areas such as transparency and disclosure in its strategic ‘Corporate Operation Plan’ (COP) (www.eib.org/about/objective/); as well as in other key documents such as the EIB Annual Report and, in particular, the annual Corporate Responsibility Report.

43. The Bank has put in place an appeal mechanism, which is described in the chapter on ‘Provisions for appeal’ (see § 106-108).

44. The Bank maintains close contacts with other EU and international institutions and bodies to monitor and exchange views on new developments in disclosure policies and practices. The Bank also addresses transparency and disclosure issues in its ongoing dialogue with civil society.

Dissemination and disclosure of information

45. This chapter focuses on information in three areas of the Bank's activity: — policies, strategies, and the decision-making process, — lending, — borrowing.

46. In the sections on lending and borrowing, a distinction is made between routine dissemination of information and disclosure on request. The section on policies, strategies, and the decision-making process lists key documents, which are all routinely disclosed, and refers to the Bank's policy of public consultation on selected policies.

Information on policies, strategies, and the decision-making process

Statutory and other key documents

Policies and strategies

47. EIB Statute — sets out the institutional, legal and governance framework for the Bank's activities.

48. Rules of Procedure — for the Bank's decision-making bodies, the Audit Committee, and staff.

49. EIB Group Annual Report — is made up of three separate volumes: — EIB Group Financial Report — represents the financial statements of the EIB Group, the EIB, the Cotonou Investment Facility, the FEMIP Trust Fund and the EIF, along with the related explanatory annexes (8). — EIB Group Activity Report — highlights the Group's key activities in the previous financial year and future prospects. — Statistical Report — includes in list form the projects financed, and the borrowing undertaken by the EIB, together with a listing of the EIF's projects. It also includes summary tables for the reference year and the last five years.

50. Corporate Operational Plan (COP) — sets operational priorities and defines medium-term policy in the light of the objectives assigned to the Bank by its Governors. Spanning three years, it is established annually and adapted to take account of new mandates, EU policy orientations and changes in the economic climate. It provides a benchmark on which to appraise performance published in EIB Annual Reports.

51. Towards a New Strategy for the EIB Group — the document, approved by the Board of Governors in June 2005, outlines the general orientations on the future strategy of the EIB Group. Decisions to implement the elements of the strategy are included in the ongoing Corporate Operational Plan.

52. EIB Information — provides information on new EIB developments, three to four times a year.

Transparency, Governance and Corporate Responsibility

53. Transparency policy — transparency is one of the Bank's main strategic corporate objectives, reflecting its role as the EU's policy-driven bank. The policy is spelled out in ‘Transparency — Report and Proposals’ (June 2004), and covers corporate governance, ethics and remuneration; financial reporting and controls and evaluation; and banking activity.

54. Statement on Governance — explains the guiding principles on Governance at the Bank. It deals with decision-making and supervisory bodies; expertise, ethics and conflicts of interest; remuneration and other benefits; external monitoring structures; financial statements and information on risk control; managing control; compliance; internal audit and control framework; strategy implementation and monitoring; and transparency.

55. Statement on Corporate Social Responsibility (CSR) — presents a declaration of broad CSR principles, together with commitments towards their implementation. This constitutes the basis for the establishment of detailed guidelines and for future reporting. Furthermore the Statement describes the principles that guide the EIB in integrating social and environmental concerns into its business operations (see also Corporate Responsibility Report below).

56. Corporate Responsibility Report — the first edition (2006) covers issues of ethics and governance, transparency and accountability, responsible financing, and the Bank's corporate footprint. It includes the information on the EIB's environmental activities which were previously presented in the Bank's Environmental Report.

57. Public Disclosure Policy — the present policy (2006) sets out the principles and rules for disclosure of information. The policy is founded on a presumption of disclosure, unless there is a compelling reason for non-disclosure. It also includes the procedures for handling requests for information and the appeal mechanisms for applicants.

58. Guidelines on Fighting Corruption and Fraud — bring together the main elements of the Bank's present approach, drawing on the Bank's Codes of Conduct, Guide to Procurement, and internal guidelines and charters, including conditions introduced into its finance contracts.

Sustainable Development

59. Environmental and social policies, strategies and procedures — the ‘Environmental Statement’ and ‘Environmental Procedures’ cover policy and internal guidelines, standards, procedures and organisation in the field of the environment, describing how the EIB assesses environmental and social aspects of all projects considered for financing, the legal framework applied — depending on where the project is situated — and the responsibilities of project promoters with regard to environmental matters, including any nature conservation requirements.

60. The Social Assessment of Projects in Developing Countries: The Approach of the European Investment Bank — outlines the existing EIB practice of social assessment of projects in developing countries to promote sustainable development. The document reflects the increasing relevance of social issues in this context and explains the Bank's aim to gradually develop a more pro-active approach to considerations of social welfare, with an initial focus on developing countries.

61. Development Impact Assessment Framework of Investment Facility Projects — outlines ways to better assess how Investment Facility (IF) (9) operations contribute to the ACP-EU Cotonou Partnership Agreement's objectives. It focuses on: financial, economic, social, environmental, governance contribution to the IF strategy, and to the Millennium Development Goals, to evaluate the development impact of individual projects.

Decision-making process

Codes of Conduct

62. The Bank publishes on its website all Codes of Conduct applicable to the Board of Directors, the Management Committee, the Audit Committee, and EIB staff members: — Code of Conduct for the Members of the Audit Committee of the EIB — Code of Conduct for the Members of the Management Committee of the EIB — Code of Conduct for the Members of the Board of Directors of the EIB — Staff Code of Conduct.

63. The Bank also releases detailed information on the remunerations and other benefits applicable to members of the decision-making bodies, supervisory bodies, and staff.

64. In addition, the following documents are published: — Annual calendar of Board of Directors meetings. — Personal statements by Members of the Board of Directors: The members of the Board of Directors sign a personal statement on the other offices or positions they hold. Details of abstentions from voting in cases of conflict of interest are made public as well. — Personal statements by the Members of the Management Committee: The members of the Management Committee sign a declaration of financial interests similar to that applicable to members of the European Commission. — Speeches and statements by senior management.

Public consultation on policies.

65. The EIB will open up further public consultation processes on selected policies, essentially through its website (Transparency Policy, June 2004).

Information related to lending operations

Routine dissemination

Project cycle related publications

66. Eligibility Guidelines — explain the legal basis under which the EIB finances projects within the European Union Member States. Its lending outside the EU is covered by separate mandates from the EU as part of the Union's external co-operation and development aid policies.

67. Project Cycle at the EIB — describes the Bank's decision-making mechanisms relating to the projects it finances. It also provides an overview of the standard appraisal and monitoring procedures applied which are tailored to the specific characteristics of each project for which a loan is requested.

68. Guide to Procurement — provides promoters and their suppliers with information on the EIB's policy, the applicable legal framework and the arrangements to be made for procuring required works, goods and services for projects financed by the Bank. It also details the respective roles of the EIB and promoters of projects.

69. Statistical Report — published as Volume III of the EIB's Annual Report, providing a comprehensive set of data on projects financed by the Bank. This includes country lists of finance contracts signed and statistical lending breakdowns by country, region, EU objective, and sector.

Project List (Pipeline)

70. The Bank posts on its website advance information on projects it considers for financing on a Project List with associated Project Summaries. Projects are introduced onto the list before consideration by the EIB's Board of Directors, unless compelling reasons would justify a later release (see also the section on ‘Constraints’, § 25-37).

71. The ‘trigger point’ for posting a Project Summary is when the Bank requests the opinions of the Member State(s) concerned and the European Commission, as required under Article 21 of the EIB Statute. This is considered to be the most suitable point for the first public statement that the Bank has reached a sufficiently advanced stage in discussions with a project promoter to be reasonably confident of a loan proposal going to the Board of Directors.

Project Summaries

72. Project Summaries include the name of the project, the project promoter or financial intermediary (for global loans), the location of the project, the sector it represents, a project description, its objective(s), its environmental and, if appropriate, social aspects, procurement data, proposed EIB finance, the total project cost, and the status of the project, noting whether it is ‘under appraisal’, ‘approved’ or ‘signed’. When applicable, links are provided to Environmental Impact Assessment (EIA) information and procurement notice.

73. If applicable, the Project Summary includes either an electronic version or a link to the Non-Technical Summary (NTS) of an EIA and, outside the EU, the equivalent of the NTS along with the Environmental Impact Statement (EIS). EIB staff endeavour to meet any specific requests for information on particular EIA/EIS-related issues and documents. The EIB encourages promoters to make information available on their own websites.

74. After signature, projects remain on the list until they are published in the Bank's Annual Report.

Environmental impact assessment of projects

The EIB's policy towards the formal process commonly known as ‘Environmental Impact Assessment’ (EIA) is summarized in its Environmental Statement (2004).

The Bank requires that all projects, irrespective of location, comply with the requirements (principles and practices) of the European Union's EIA Directive (85/337, amended by 97/11 and 2003/35), in terms of the requirements for and scope and form of a formal EIA.

The EIA Directive outlines which project categories shall require an EIA, which procedure shall be followed and the content of the assessment. Article 5(1) of the Directive requires the project promoter to provide information to the competent authority relating to the environmental impact of the project. The information is specified in Annex IV of the Directive and includes, among others, a Non-Technical Summary (NTS). According to Articles 6 and 9 of the Directive, it is the responsibility of the host country and its competent authorities to ensure that the ‘public concerned’ are informed and consulted on the proposed project. The Bank's staff checks if these requirements have been fulfilled and their findings are summarized in their report to the EIB Board of Directors.

For all projects for which an EIA is required, the Bank posts the NTS (or links to where it can be consulted) on the Project List. For projects outside the EU and the Accession and Candidate Countries the Environmental Impact Statement (EIS) is posted. The Bank reviews these documents to ensure that appropriate attention has been paid to likely environmental impacts, and that the proposed mitigation and compensation measures and the proposed environmental management plans associated with their implementation satisfy the requirements of the Bank.

Through appropriate discussions with the promoter and other parties, and to ensure the project meets the EIB's environmental standards, the Bank promotes good EIA practice.

Global loans

75. Global loan operations are published on the Project List on the Bank's website. In addition, the Bank releases, on request, aggregate data on global loan financing, including country and sector breakdowns.

Evaluation Reports

76. Operations Evaluation activities are carried out within the Inspector General's Department by a separate Operations Evaluation team, independent from the operational directorates. This team prepares ex-post thematic, sector and regional/country evaluations of EIB's financing operations, which are published on the Website after discussion by the Board of Directors. An annual ‘Operations Evaluation Overview Report’ is also published.

Topical Project Briefs

77. In cases where projects raise considerable public interest, the EIB publishes a Topical Project Brief on its website.

Press releases

78. EIB issues press releases on newsworthy projects, usually at the time of loan signature.

Disclosure on request

79. In addition to the routinely published Project Summaries, the Bank provides further project-related information: — The ‘Proposal from the Management Committee to the Board of Directors’ for financing a project: — For public sector projects, the proposal will be disclosed unless the Board decides not to disclose in a commercially sensitive case. — For private sector projects, information not designated by the Bank's private sector counterparts as confidential may be disclosed. — Information from the Bank's environmental and social impact assessment reports. — Information from the Bank's mission reports.

Project documents

Each project generates its own unique collection of documentation and communications. Certain key stages within the life cycle of a project can be distinguished when essential information is collected and evaluated.

The Bank's appraisal process may generate the following documents that play a key role in its internal decision making processes:

— Preliminary Information Note

— Proposal to authorise appraisal

— Request for Opinion of European Commission and EU Member State(s)

— European Commission's opinion

— Member State(s)' opinion

— Proposal to negotiate the operation, including opinions from EIB's various services

— Proposal from the Management Committee to the Board of Directors for financing a project

— Formal financing request from the project promoter

— Finance Contract.

Information related to borrowing operations

Routine dissemination

80. Information on the EIB's approach to borrowing activities is outlined in the Bank's Corporate Operational Plan, which also indicates expected funding volume.

81. The EIB is required to follow the law in the markets in which its securities are offered. A common requirement in the jurisdictions in which the EIB operates is non-discrimination in the disclosure of information on financial actions that would provide someone with an unfair competitive advantage in trading. In general the EIB will seek to ensure that information on such matters will be released simultaneously through appropriate approved regulatory channels as well as on its website. Routine information on EIB borrowing activities is also made available by financial intermediaries.

82. The main means of communication on borrowing operations include: — The key financial news services, notably Bloomberg and Reuters, the Bank's website, and a Regulatory Information Service provide extensive information on EIB's activities on capital markets. — The Capital Markets sub-site of the Bank's website focuses on the Bank's borrowing activities. These website pages provide a profile of EIB as a borrower, and information related to key aspects of its borrowing operations, including tables of issues and links to offering circulars and debt issuance programmes. — Regulatory filings that are made available to the public. — The EIB Group Annual Report includes the Financial Report, which provides an annual overview of borrowing activities, treasury and liquidity management. Among the Annual Report documents is the statistics supplement, which contains a list of bond operations carried out in the capital markets. — Presentation documents. — Periodical investor newsletters. — Press releases on borrowing activities, which are considered particularly newsworthy or respond to disclosure requirements. — Other specialised information materials on the Bank's activities in the capital markets.

83. The EIB also has direct contacts with sections of the investment community in meetings (including road-shows, teleconferences and conferences).

84. Queries related to the Bank's activities in the capital markets should be addressed to the Investor Relations Division (investor.relations@eib.org).

Disclosure on request

85. Documentation (Offering Circulars, Prospectus and/or Programmes) for public bond issues is available upon request.

Procedures for handling information requests

86. The Bank's procedures for handling requests for information from the public are as follows:

Applications

87. Applications for access can be made in any written form or orally. They should be addressed to the EIB's Communication and Information Department or the info@eib.org. They can also be addressed to the Bank's External Offices, which will then forward them to the Communication & Information Department at the Headquarters in Luxembourg.

88. The applicant is not obliged to state reasons for the application.

The processing of applications

89. Requests are normally processed by the EIB's Infodesk and are replied to without delay and in any event no later than 20 working days following receipt.

90. If an application is not sufficiently precise or if it does not enable the document, or information, to be identified, EIB staff shall ask the applicant to clarify the application.

91. In the event that a request is delivered to the wrong person within the Bank, the member of staff who received it shall forward it to the competent department without delay.

92. If an oral request for information is too complicated or complex to deal with, the member of staff shall ask the requester to formulate his/her request in writing.

93. If information has already been released, either by the Bank or by a third party, EIB staff shall inform the applicant how to obtain the requested information.

94. Where, on account of the complexity of the issue(s) raised, a reply cannot be provided within the prescribed time limit, staff shall inform the correspondent without delay and no later than 10 working days following receipt. The acknowledgment shall indicate the name of the department and the member of staff preparing the reply.

95. A reply to a complex request is provided no later than 40 working days following receipt.

96. If, for reasons of confidentiality, staff are unable to divulge the information requested, in full or partially, they shall give the reason(s) why such information cannot be provided and inform the applicant of their right to make a confirmatory application (see below).

97. Information shall be supplied in an existing version and format, or, if feasible, in a format according to the specific needs of the requester.

98. Staff shall ensure that, where possible, members of the public writing to the Bank in one of the official languages of the EU receive a reply in the same language.

99. An applicant may be charged a fee to cover the costs arising from the making available of document(s) requested.

100. Staff shall not send any correspondence to other external parties unless the person concerned has been informed.

101. The Bank retains the possibility of refusing to follow up an application that is manifestly unreasonable.

Confirmatory applications

102. In the event of a total or partial refusal, or failure by the Bank to reply to a request within the prescribed time limit, the applicant may, within 20 working days of receiving the Bank's reply, make a confirmatory application.

103. The Bank shall handle a confirmatory application as soon as possible and in any event no later than 15 working days following receipt. In exceptional cases, for example in the event of an application relating to a very complex document or question, the time limit may be extended by another 15 working days, provided that the applicant is notified in advance and that reasons are given.

Appeal

104. In the event of a total or partial refusal following a confirmatory application, the Bank shall inform the applicant of the remedies open to him or her, namely making a complaint as described below in the chapter on ‘Provisions for appeal’.

105. The provisions for appeal also apply if the Bank fails to reply within the prescribed time limits or if a person considers that a reply is unsatisfactory.

Provisions for appeal

106. Members of the public who feel that a request for information was not dealt with by EIB staff according to the standards and procedures formally adopted by the Bank may lodge a formal appeal with the EIB's Secretary General. Appeals must be made in writing, within 20 working days of the date of the correspondence, which is the subject of the complaint. The Bank will acknowledge the receipt of the appeal without delay and the Secretary General's reply will be provided no later than 20 working days following receipt of the appeal.

107. In accordance with Article 195 of the EC Treaty, EU citizens or any natural or legal person residing or having its registered office in a EU Member State can also refer their appeal to the European Ombudsman (10). The Ombudsman has been set up to examine appeals about mal-administration in the activities of EU institutions and bodies and reports to the European Parliament.

108. For cases where citizens or residents from non-EU countries wish to appeal against non-disclosure of EIB information, and whose cases are not being handled by the European Ombudsman, appeal can be made to the Bank's Inspector General (11). In carrying out his task, the Inspector General acts independently from the Management of the Bank. His reports are sent to the independent EIB Audit Committee, at the same time as they are sent to the Management.

Sources of information

109. EIB documents in the public domain, can be freely reproduced, if: — The source and the date of publication are mentioned — The information is not modified — The information is not used for commercial purposes (which would require the EIB's approval) — The rights of third parties in the field of copyright are respected.

110. Certain statutory documents and decisions of the Bank are published in the Official Journal of the European Union.

Website

111. The EIB Website is the main platform for disseminating information to the public on the Bank's role and activities. It is a key authoritative source of information on the Bank.

112. All documentation published by the EIB is either posted or listed on its website. The website contains the full range of information on the Bank's governance and transparency, decision-making structure, as well as information on its project lending and borrowing activities.

113. The Bank is committed to a policy of constant improvement in the content and facilities of the website to enhance rapid and easy access to its information. The website is currently available in English, French, and German.

114. Sub-sites of the Bank's website focus on particular lending and borrowing objectives or other sectors of EIB activity. Typically, sub-sites cover EIB activity in: — Accession Countries — Mediterranean Partner Countries — African, Caribbean and Pacific Countries — Economic and social cohesion — JASPERS — Innovation 2010 Initiative — Human capital — TENs — Environment — Capital Markets — Jobs — on current employment opportunities at the EIB — Economic and Financial Studies — with access to research papers.

115. EIB's website is also accessible through the portal site of the European Union server (http://www.europa.eu) and is included in numerous public websites dealing with EU affairs, as well as in the main internet search engines.

InfoDesk

116. The InfoDesk (info@eib.org) can be addressed for all requests for information and documents or any other enquiry concerning the EIB's role and activities. The InfoDesk team can also be reached by telephone — see contact details below.

Relations with the press and other news media

117. In general the Media Relations Division, Communication and Information Department, manages relations with the news media. The Investor Relations Division in the Capital Markets Department manages relations with specialised capital market press.

118. Press activities are focused on: — Press conferences, organised by the Bank, among which the annual press conferences in Luxembourg and Brussels (in February) presenting the Bank's results in the previous financial year and, if required, the press conference after the Board of Governors Annual Meeting (in June). — Press contacts, ranging from briefings and interviews to background information meetings. — Press releases, mostly for newsworthy loan signatures. Other topics covered include high profile borrowing operations, new EU policy initiatives involving the Bank, and appointments to the EIB's decision-making bodies and senior management. Press releases are posted on EIB's website and circulated to those on the press release mailing list. — Articles for specialised publications. — Corporate and market-oriented advertisements — limited in scope.

Civil society relations

119. The role of the Civil Society Unit, Communication and Information Department, is to manage relations with the general public, including contacts with Non-Governmental Organisations (NGOs) and other Civil Society Organisations (CSOs). The Unit acts as an interface with civil society, in particular in coordinating replies to enquiries and requests for information and organising meetings and workshops with interested organisations. Its activities include:

120. Regular Workshops. EIB holds Workshops for CSOs on topics of common interest, in principle twice a year, mainly on a regional basis, inside and outside the EU. Workshops are brought to the attention of CSOs by announcing the event on the Bank's website and through targeted mailings. The agenda for these Workshops is drawn up in co-operation with interested CSOs.

121. Local and regional contacts. Bank staff correspond and meet with local CSOs, notably when there is a particular interest among the local population in an EIB-financed project. Whenever appropriate, operational staff are also included in such meetings, with the Civil Society Unit having a coordinating and facilitating role.

122. Other events. EIB staff also participate in CSO-organized events.

Conferences and exhibitions

123. Key activities include: — Speeches and statements by senior management are published on the EIB website. — The Bank organises a number of external conferences and events as well as participates in conferences and events organized by third parties. — The annual EIB Forum and other occasional conferences gather together experts on important European issues. — The EIB holds seminars, roundtables and workshops with stakeholders on topics of mutual interest, in particular for business partners. — EIB staff participate in external events to promote a professional debate on topics of interest to the Bank. — EIB staff make presentations to visitor groups having a political, professional or academic interest in the Bank's role and activities. — The EIB is frequently present at major conferences, trade fairs and exhibitions of special interest to it, in particular those aimed at establishing and extending relations with, for example, the banking sector, public and private economic operators, civil society, and the media, and also at recruitment fairs which present an opportunity to contact potential employees.

Audio-visual materials and library facilities

124. The Bank provides the following materials and facilities: — Video films, explaining the EIB's role and activities are freely available on VHS PAL standard, and BETACAM standard for professional use. — The EIB has a small film library for professional use containing ‘dossiers’ of film material, illustrating aspects of EIB activities and its decision-making structure. — The EIB has a small photograph library on EIB activities and personalities that may be consulted by third parties on request. — The EIB may provide restricted access to its Library facilities. This is mainly limited to elements such as its inventory of official EIB texts, and a bibliographic selection of works about the EIB. Use of the library resources is by appointment and subject to staff availability.

EIB historical archives

125. The EIB is establishing a document declassification policy. Documents of historic value will be gradually released from the Bank's archives and made available to the interested public. The Bank's historical archives are kept, together with those of other EU institutions and bodies, in the University Institute in Florence.

Contacts

Website

Tel: (352) 43 79 31 19 Fax: (352) 43 79 31 88 E-mail: webmaster@eib.org

InfoDesk

Tel: (352) 43 79 31 00 Fax: (352) 43 79 31 99 E-mail: info@eib.org

Mailbox dedicated to communication and disclosure policy

E-mail: infopol@eib.org

Investor Relations

Tel: (352) 43 79 62 59 Fax: (352) 43 79 62 97 E-mail: investor.relations@eib.org

Media desk

Tel: (352) 43 79 21 00 Fax: (352) 43 79 21 99 E-mail: press@eib.org

Civil Society Unit

Tel: (352) 43 79 31 35 Fax: (352) 43 79 31 91 E-mail: info@eib.org

Contact details of the Bank's external offices are published on its website.

(1) OJ C 332, 30.12.2006, p. 45.

(2) The Chief Compliance Officer does not deal with appeals from the public. For provisions for appeal see § 106-108.

(3) OJ L 145, 31.5.2001, p. 43.

(4) The EU's three legislative institutions called on the other institutions and bodies of the Union to adopt rules on public access to documents that take into account the principles and limits laid down in the Regulation.

(5) Article 287: ‘The members of the institutions of the Community, the members of committees, and the officials and other servants of the Community shall be required, even after their duties have ceased, not to disclose information of the kind covered by the obligation of professional secrecy, in particular information about undertakings, their business relations or their cost components’.

(6) The EIB has no contractual relationship with final beneficiaries of global loans. The intermediary bank is the beneficiary's business partner, carrying the project's commercial risks and signing the financing contract.

(7) The Preliminary Information Note is a brief early-stage document informing the Bank's Management Committee and services of a possible new operation.

(8) Both EIB and EIB Group consolidated financial statements are included in the EIB Group Financial Report. The consolidated financial statements are drawn up in accordance with International Financial Reporting Standards (IFRS). EIB's unconsolidated accounts are drawn up in accordance with Directive 86/635/EEC on the annual accounts and consolidated accounts of banks and other financial institutions.

EIB's Financial Report includes extensive information on credit, operational and risk management.

The Bank also publishes half-yearly consolidated accounts (unaudited).

(9) The Investment Facility (IF) is a key financial instrument of the Cotonou Partnership Agreement launched on 2 June 2003. The IF operates in all economic sectors and supports investments of private and commercially run public sector entities, including revenue generating economic and technological infrastructure critical for the private sector.

(10) From experience, the Ombudsman prefers the public to explore all the established procedures of an EU institution or body such as the EIB before appealing to him.

(11) As set out in the Bank's ‘Statement on Governance’, the Inspector General provides an independent recourse mechanism for investigating complaints that the European Ombudsman considers to be outside his remit. The terms of reference for the appeal mechanism under the Inspector General are being prepared.