Updated framework to become effective on January 1, 2025
By Rezo Bitsadze
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved changes to the Bank’s Access to Information Policy. The updated framework, which will become effective on 1 January 2025, aims to significantly enhance the transparency and accessibility of the Bank’s information while reinforcing its accountability to all its stakeholders.
The policy’s approval follows an 18-month review process that included extensive public consultation. The updated rules align with international best practice on transparency and information sharing, strengthening the EBRD’s commitment to openness.
Key changes include the adoption of new principles for proactive disclosure and a more narrowly defined set of exceptions, guided by clearer criteria based on the potential harm caused. The 2024 framework also enhances transparency in relation to the Bank’s decision-making process and information sharing on its operations, all while balancing the ERBD’s unique mandate with client needs across its regions.
The EBRD’s Access to Information Policy sets out the Bank’s commitment to transparency and disclosure. It also describes the procedures for implementing these commitments through the Directive on Access to Information. One of the key guiding principles of the new framework is to recognise the right to request information and to appeal a decision by the Bank to refuse access to certain information.
In addition, the EBRD commits to reporting annually to its Board of Directors on the policy’s implementation. These reports are made available to the public, ensuring accountability in line with the Bank’s transparency standards.
