EBRD – sovereign
- 5 / 9
The European Bank for Reconstruction and Development (EBRD) is a multilateral development bank that aims to promote transition in central and eastern Europe, central Asia, and the southern and eastern Mediterranean. Its sovereign portfolio provides loans and guarantees as well as business advisory services to public institutions. EBRD’s shareholders include countries from the region and the rest of the world, plus the European Union and the European Investment Bank. EBRD is not an IATI member but started publishing to the IATI Standard in May 2015. EBRD was established in 1991.
EBRD had the fifth highest score in the sovereign assessment with 48.4 out of 100. EBRD’s performance in the DFI Transparency Index was negatively affected by failure to score in key indicators including the publication of results and disclosure of loan agreements/contracts. EBRD publishes data to the IATI Standard and discloses project-level data in two files that are available for bulk download.
EBRD’s sovereign portfolio came fifth in the Core Information component with a score of 19.02 out of 30. It scored for fifteen of the seventeen indicators. It scored 100% for eight of these indicators because it publishes to IATI and provides a bulk download file. It was the only sovereign DFI to score for all date survey questions in the progress dates indicator. However, EBRD dropped points for other indicators as not all data points were disclosed on the bulk download files. It also did not publish loan agreements/contracts for its investments.
EBRD came sixth in the Impact Management component with a score of 12 out of 30. It scored points for all organisation-level questions apart from its approach to determining impact attribution. However, it did not score for any project-level indicators in this component. The failure to publish results for sovereign activities was central to it not performing better in the overall assessment.
EBRD came fifth in the ESG and Accountability to Communities component with 16.33 out of 30. It scored for all organisation-level indicators apart from independent accountability mechanism (IAM) community disclosure policy. For project-level indicators it scored for the summary of E&S risks, E&S project plans/assessments, and IAM global disclosure indicators. It did not score for the assurance of community disclosure indicators.
EBRD came third-last in the Financial Information component, with a score of 1 out of 15. It scored 100% for the financial reports/statements indicator but did not score for any project-level indicators.
- EBRD should disclose more data points in its bulk download file that it already publishes elsewhere, including total investment cost, E&S risk category, and approval date.
- It should publish data points that are already disclosed on its data portal to the IATI Standard, including sector and client contact.
- EBRD should disclose further Core Information indicators including sub-sector, disbursement, and funding source
- It should disclose loan agreements/contracts for its investments.
- It should disclose data for the results indicator and disclose consistently for the activity indicators/metrics indicator.
- EBRD should publish E&S documents for all investments, including the minimum documentation for higher risk projects.
- It should provide assurance of community disclosure for investments when disclosure is required.
- EBRD should develop a policy guiding the disclosure of the presence of the IAM at community level.
- It should consistently disclose project-level indicators in the Financial Information component, including for the currency of investment, co-financing, and instrument-specific disclosure indicators.