CEB and EIB host MDB Private Sector Integrity meeting
16 March 2016
The Council of Europe Development Bank (CEB) and the European Investment Bank (EIB) co-hosted the annual meeting of the Heads of Compliance and Integrity Functions of Multilateral Development Banks (MDB) at the CEB headquarters in Paris on 14-15 March.
Representatives from 14 MDBs in Europe, the Americas, the Caribbean, Asia and Africa discussed recent developments in the field, including integrity due diligence in the private sector and non-sovereign guaranteed operations; the international tax agenda and implications for operations; and best practices for ensuring consistent treatment of integrity issues across MDBs.
Launched in 2010, the meeting has become an annual event involving the Compliance and Integrity Functions of the MDBs. Its purpose is to foster exchange of information, improve responsiveness to compliance issues, and establish closer working contacts.
In his opening address, Rolf Wenzel said: “Harmonising integrity enforcement and monitoring across regions is crucial to strengthening compliance and ensuring that we remain relentless in our common fight against harmful tax practices and corruption. Meetings such as this are instrumental in that respect, and I am delighted that the CEB is welcoming today MDB representatives from all around the world for this year’s annual conference.”
“International public banks must not only demonstrate a shared commitment to fighting corruption, tax avoidance, money laundering and financing terrorism, but continually build on shared technical, financial and regulatory experience gained across different sectors and from around the world. The European Investment Bank firmly shares this common resolve with the world’s leading Multilateral Development Banks and other financial partners, and is pleased to jointly host this year’s compliance and integrity meeting with the Council of Europe Development Bank,” said Jonathan Taylor, European Investment Bank Vice President.
Global challenges like development and migration can only be tackled efficiently when Multilateral Development Banks (MDB) work together even more closely, EIB President Werner Hoyer stressed at the World Bank/IMF Annual Meetings in Washington on Friday. “We are strong believers at the EIB in multilateralism and co-operative structures”, the President of the European Investment Bank said in a panel discussion with heads of other leading MDBs at the World Bank headquarters. “The EIB is open to close collaboration with other MDBs.”
The multilateral development banks (MDBs) and IMF today signaled plans to extend more than $400 billion in financing over the next three years and vowed to work more closely with private and public sector partners to help mobilize the resources needed to meet the historic challenge of achieving the Sustainable Development Goals (SDGs).