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.
The European Investment Bank (EIB) has signed a EUR 250 million loan agreement with TenneT Holding B.V. The financing will be used to build a 40-km long electricity transmission corridor from Eemshaven to Vierverlaten in the province of Groningen, in the north of Netherlands, enabling the transmission of rapidly growing amounts of offshore wind energy to users in the Netherlands and beyond. The new electricity transmission corridor will double the capacity of the existing 220kV circuit. The corridor financed by the EIB includes a new 380kV line from Eemshaven to Vierverlaten, combined with a 110kV line for part of the route, and a new 380/220kV substation in Vierverlaten.
Train passengers in the Stockholm-Mälaren region can look forward to more comfortable, reliable and attractive rail services in the near future. AB Transitio, the company that acquires trains for leasing to Swedish regional transport services, has signed a SEK 480 million loan to support the acquisition of 12 new train sets to be used in the Stockholm-Mälaren region.
The Board of Directors of the European Investment Bank (EIB) today approved plans to strengthen its global development engagement. It also approved EUR 4.8 billion of new financing for 24 projects to support climate action, COVID vaccines and economic resilience, sustainable transport and education.