The European Investment Bank (EIB) welcomes the first DFI Transparency Index 2023. We particularly welcome the efforts of Publish What You Fund (PWYF) to take into account the differences between Development Finance Institutions (DFI) and Development Aid agencies, as well as the consultative, multi-stakeholder approach PWYF has taken to develop this new tool to improve the effectiveness and accountability of DFI investments.
As the Bank of the European Union, the EIB fully recognises its special responsibility to be open and transparent towards its stakeholders regarding its activities and the projects that it finances. Through its new branch, EIB Global, dedicated to development finance, the bank wishes to increase the impact of its financing and its partnerships to better support climate action, innovation and economic resilience, while promoting European Union goals for peace, security and sustainable living, especially in locations where life is the hardest. We appreciate that the provision of accessible, clear information about projects is part of this mission.
We are pleased that the report ranks the EIB at levels similar to peer DFIs in a number of areas such as financial intermediaries, core information, as well as ESG and accountability to communities. We also take note of the identified areas for improvement. While some of these have already been, or will soon be addressed, notably through our latest EIB Group Environmental and Social Sustainability Framework, we are continuously striving to further improve transparency in our activities, and will be using the report as a source of good practice and recommendations.
We remain committed to continuing our constructive dialogue with PWYF, our peer DFIs, and other stakeholders on these important matters, and to pursuing our ongoing efforts to achieve the highest standards in matters relating to transparency and accountability.