In the context of its 10th Anniversary, the EIB’s Inspectorate General organised a Conference on Good Governance. Here are ten inspiring comments that came out from the conference:
- Accountability functions are more than just nuts and bolts: they should be robust, embedded at all levels, and used as learning tools within an institution.
- The “tone at the top” is crucial, but middle management must also buy-in.
- It is important to foster a culture within IFIs in which accountability functions are viewed as valuable.
- The effectiveness of the governance model appears, in practice, to be more critical than the design itself.
- Strong governance and accountability provide competitive advantage.
- The EIB must reflect on how we maintain social trust, considering that our clients are also EU citizens.
- To back this up, accountability needs to have a strong communication framework surrounding and keep an external focus.
- Communication on governance and accountability should be clear enough for all EU citizens regardless of age or background to understand.
- Accountability for a public organisation means being able to learn and being responsive to the outside world.
- No number of regulations can prevent fraud. Trust and human nature are always important parts of the equation.
The key messages of the speeches and debates of the Conference have been compiled in a summary (see below).