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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.
Entities subject to an exclusion decision
The following entities are currently publicly subject to an EIB exclusion decision:
|Name||Country of incorporation||Nature of decision||Valid from||Valid until||Type of proceedings|
|Volkswagen AG*||Germany||Exclusion||20.12.2018||19.06.2020||Voluntary settlement|
|Sediver SAS**||France||Conditional non-exclusion||24.09.2019||23.09.2021||Voluntary settlement|
* Please see the related press statement for more information
** Please see the related press statement for more information
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:
- Sediver SAS – published on 30 September 2019
- Volkswagen AG - published on 20 December 2018
- 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