The EIB has a zero tolerance policy against fraud, corruption, collusion, coercion, obstruction, money laundering and terrorist financing (together “Prohibited Conduct” as defined in the EIB Anti-Fraud Policy) in relation to its activities and projects.
The EIB’s Exclusion Policy sets out the policy and procedures for the exclusion of entities and individuals found to have engaged in Prohibited Conduct from EIB-financed projects and other EIB-related activities for a certain period of time. It enforces the prohibitions contained in the EIB’s Anti-Fraud Policy and, in doing so, contributes to safeguarding the financial interests, the integrity and reputation of the Bank and the activities it finances.
Proceedings instigated under this Exclusion Policy follow a three-stage review process to determine whether the evidence presented convincingly supports the conclusion that an entity or individual engaged in Prohibited Conduct.
The following entities are currently publicly excluded from EIB-financed projects and activities:
|Name||Excluded from||Excluded until||Type of exclusion|
FIR Advisors S.L.
|Squatina Business Inc.||30.09.2016||29.09.2019||Voluntary settlement|
|Mr F. Prior Sanz||30.09.2016||29.09.2019||Voluntary settlement|
|Iberdrola Ingeniería y Construcción S.A.U. (Iberinco)||22.12.2017||21.12.2018||Voluntary settlement|
The EIB Exclusion Policy includes a provision which allows the EIB to enter into negotiated settlements with individuals or entities that have engaged in Prohibited Conduct.
The list below contains historical settlements, agreed by the EIB and the respective parties:
- Iberdrola Ingeniería y Construcción S.A.U. (Iberinco) – published on 5 January 2018
- Mr F. Prior Sanz, FIR Advisors S.L. and Squatina Business Inc. – published on 4 October 2016
- Gama Power Systems – published on 17 August 2015
- Siemens – published on 15 March 2013