In a message from its President, Mr. Philippe Maystadt, the European Investment Bank announces its support for the United Nations Office of Drugs and Crime (UNODC)'s International Anti-Corruption Day (December 9). The EIB Group recognises the serious and widespread problems posed by corruption which can cause competitive procurement processes to be derailed, individuals illicitly to enrich themselves, public funds to be misapplied, even to the point of undermining the rule of law and the democratic process.
The European Investment Bank applies a zero tolerance policy to corruption (and also to fraud, collusion and coercion). To achieve this requires appropriate anti-fraud measures in EIB's business dealings and contracts. These measures have been strengthened through the public consultation process and ultimately the adoption by the Board of Directors in April 2008 of EIB's anti-fraud and corruption policies and procedures - more information is available on EIB's website www.eib.org.
These positive steps have been taken to ensure that EIB can deal appropriately, expediently and fairly with allegations of fraud and corruption and can do so with the full support of its partners at the European Anti-Fraud Office (OLAF). In addition, the EIB has worked closely and will continue to strengthen the cooperation with other International Financial Institutions (IFIs) in the fight against fraud and corruption, as evidenced by EIB's signing of the IFI Anti-Corruption Task Force's Uniform Framework.