• EBRD unveils good governance policies at the EBRD Annual Meeting and Business Forum
• The three policies represent the fundamental governance policies of the Bank
• Over 500 EBRD stakeholders provided comments and feedback to shape these policies

The EBRD is taking further steps to strengthen its sustainability, transparency and accountability by launching an updated set of good governance policies.

The three policies launched today at the EBRD Annual Meeting and Business Forum – the Environmental and Social Policy, the Access to Information Policy, and the Project Accountability Policy – represent the fundamental governance policies of the Bank. They outline the Bank’s commitments in these areas while promoting better awareness and understanding of the EBRD’s procedures and operations.

The Environmental and Social Policy (ESP) guides the EBRD’s commitment to promoting “environmentally sound and sustainable development” in the full range of its investment and technical cooperation activities.

The Access to Information Policy (AIP) translates the Bank’s commitment to enhance the transparency of its activities and promote good governance into concrete actions.

The Project Accountability Policy (PAP) (formerly the PCM Rules of Procedure) outlines how environmental, social and transparency concerns regarding Bank Projects can be independently reviewed and addressed. The Project Accountability Policy will be implemented by the Independent Project Accountability Mechanism (IPAM), which is replacing the current Project Complaint Mechanism (PCM) as the accountability mechanism of the Bank.