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EIB publishes interim revised policy on Offshore Financial Centres

leaders in London in April 2009. The EIB’s Interim Revised OFC Policy was approved by the Board of Directors on 14th July 2009 following extensive consultations with EU Member States, key expert Lead... of the Interim Revised OFC Policy, and as the European Union’s long-term financing institution, the EIB confirms its leading role in addressing the problems caused by non-cooperative jurisdictions... carried out for illegal purposes, including money laundering, terrorism financing, tax fraud and tax evasion, and discouraging prohibited activities and harmful tax practices, the Interim Revised OFC

http://www.eib.org/infocentre/press/news/all/eib-publishes-interim-revised-policy-on-offshore-financial-centres.htm

en - 25/08/2009 - 35k

briefing2010_17_ofc_policy_en.pdf

accepted definition of an OFC, the EIB has opted to conform to the practice followed in the listings, qualifications and reports regularly issued by international standard- setting organisations... Board (FSB), the Financial Action Task Force (FATF) and the Global Forum on Transparency and Exchange of Information for tax purposes1. In addition to its OFC Policy, further appropriate policies... interests of the European Union. Scope of application of the Bank’s OFC Policy The Bank applies its OFC Policy to all of its lending, borrowing and treasury activities and operations, including

http://www.eib.org/attachments/general/events/briefing2010_17_ofc_policy_en.pdf

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ncj_policy_en.pdf

. The “EIB Interim Revised Policy towards Offshore Financial Centres” approved in July 2009 (“2009 OFC Policy”) amended the existing OFC Policy issued in 2005 and has now been updated in line with recent international developments and evolving practices, as summarised below. a) 2009 OFC Policy The 2009 OFC Policy confirmed the 2005 core guidelines (prohibition to carry out operations... to an offshore financial centre), but several innovative features were introduced: 1) A wider definition of offshore financial centre (“OFC”): in the absence of a generally accepted definition

http://www.eib.org/attachments/strategies/ncj_policy_en.pdf

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faq_sri_en.pdf

, the Interim Revised OFC Policy includes the following new key features: - It adopts the country lists and related reports produced by the key expert Lead Organisations, such as the OECD, the IMF... ) - It confirms the EIB’s existing commitment to refuse to operate wherever there is an OFC link to a prohibited (‘blacklisted’) jurisdiction, unless a project is physically located in such a jurisdiction and there is evidence that the OFC structure is used for illegal activities or harmful tax practices. - The EIB will insist on active measures in cases where monitored (‘grey-listed’) jurisdictions

http://www.eib.org/attachments/faq_sri_en.pdf

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La BEI publie sa politique intérimaire révisée sur les centres financiers offshore

fiscale, et à décourager les activités interdites et les pratiques fiscales dommageables, la politique intérimaire révisée concernant les OFC comporte de nouveaux aspects essentiels : - Elle adopte les

http://www.eib.org/infocentre/press/news/all/eib-publishes-interim-revised-policy-on-offshore-financial-centres.htm

fr - 25/08/2009 - 35k

cso_2010_presentation_en.pdf

redesigned Publication of brief on implementation of the EIB’s PDP in 2008 Publication of Whistleblowing Policy Publication of interim revised OFC policy Spring CSO Workshop on Transport

http://www.eib.org/attachments/cso_2010_presentation_en.pdf

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ncj_faq_en.pdf

targeted i.e. money-laundering, financing of terrorism, tax fraud, tax evasion and harmful tax practices; and • Replace the definition of OFC with “Non Compliant Jurisdiction” (NCJ) i.e.... . In particular they are required to disclose in detail the economic rationale of the structure and the specific economic requirements that make recourse to the relevant OFC necessary. Q.12 Can

http://www.eib.org/attachments/documents/ncj_faq_en.pdf

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anc2010_package_en.pdf

Annual News Conference 2010 y Press Release 25 February 2010 page 1 / 1 Embargo: 25 February – 10:30 European Investment Bank delivers unprecedented lending volume The European Investment Bank (EIB) increased its total lending volume in 2009 to EUR 79bn, a 37% rise from EUR 58bn in 20...

http://www.eib.org/attachments/general/events/anc2010_package_en.pdf

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bei_info136_en.pdf

by the G20 summit of world leaders in London in April 2009. The Interim Revised OFC Policy is now published on the EIB’s website and has been praised by the Ecofin Council as a possible model... Task Force’s Uniform Framework Agreement, and described the measures the EIB takes to combat fraud and corruption. The EIB’s Interim Revised OFC Policy was developed at the initiative of the EIB’s... , the new OFC policy does not tolerate any activity carried out for il- legal purposes, including money laundering, terrorism financing, tax fraud and tax evasion, and discourages prohibited activities

http://www.eib.org/attachments/general/bei_info/bei_info136_en.pdf

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ac_2009_en.pdf

European Investment Bank Annual Report to the Board of Governors AUDIT COMMITTEE Annual Report to the Board of Governors For the 2009 financial year 8 June 2010 AUDIT COMMITTEE ANNUAL REPORT TO THE BOARD OF GOVERNORS For the 2009 financial year ...

http://www.eib.org/attachments/general/reports/ac_2009_en.pdf

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ac_2006_en.pdf

consultation. - Policy towards offshore financial centres (OFC): In its effort to ensure that no project, structure or investment supported by the Bank is intended to be used to facilitate tax evasion... . The paper aims to align the Bank’s policy to international best practice and articulates specific control proposals. It also documents the Bank loans and investments connected with OFC. The Audit

http://www.eib.org/attachments/general/reports/ac_2006_en.pdf

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corporate_responsibility_developments_2009_en.pdf

Corporate Responsibility Developments in 2009 European Investment Bank Group • European Investment Bank Group • European Investment Bank Group • European Investment Bank Group Corporate Responsibility Developments in 2009 European Investment Bank Group • European Investment Bank Group • Euro...

http://www.eib.org/attachments/general/reports/corporate_responsibility_developments_2009_en.pdf

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transparency_policy_sk.pdf

finančných centier off-shore (OFC – Off-shore Financial Centres) je zabezpečiť, aby žiadna štruktúra OFC, v ktorej je banka účastníčkou, neslúžila na sprostredkovanie plánovaných činností

http://www.eib.org/attachments/strategies/transparency_policy_sk.pdf

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transparency_policy_mt.pdf

1.3.1 L-għan tal-politika riveduta Interim tal-BEI dwar Ċentri Finanzjarji Offshore (OFC) huwa li jiġi żgurat li ebda Struttura OFC li fiha jipparteċipa l-Bank ma tkun intiża biex tintuża sabiex

http://www.eib.org/attachments/strategies/transparency_policy_mt.pdf

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ac_2009_nl.pdf

EUROPESE INVESTERINGSBANK 8 juni 2010 1 / 1 RAAD VAN GOUVERNEURS JAARVERSLAG VAN HET COMITÉ TER CONTROLE VAN DE BOEKHOUDING OVER HET BOEKJAAR 2009 EUROPESE INVESTERINGSBANK CG/80/10 8 juni 2010 Document 10/06 COMITÉ TER CONTROLE VAN...

http://www.eib.org/attachments/general/reports/ac_2009_nl.pdf

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transparency-policy-v-101209.pdf

1.3.1 The EIB Interim revised policy Towards Offshore Financial Centres aims to ensure that no OFC Structure in which the Bank participates is intended to be used to facilitate Targeted Activities

http://www.eib.org/attachments/transparency-policy-v-101209.pdf

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20100515_eia_en.pdf

shall consist of optical fiber cable (OFC, 48’) and copper cable (CC, 72”) laid in the multi- tubular duct network along the railway line, couplers, digital distribution frames (DDF) and optical

http://www.eib.org/attachments/pipeline/20100515_eia_en.pdf

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20050305_nts_fr.pdf

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http://www.eib.org/attachments/pipeline/20050305_nts_fr.pdf

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