EIB fights tax avoidance, money laundering and financing of terrorism

The European Investment Bank has revised its existing policy towards offshore financial centres (OFCs), ensuring that it is fully in line with the principles for dealing with non- cooperative and non-transparent jurisdictions endorsed by the G20 summit of world leaders in London in April 2009.

The Interim Revised OFC Policy is now published on the EIB’s website and has been praised by the Ecofin Council as a possible model for the development of common guidelines for the policies and practices of international financial institutions (IFIs) when dealing with non-cooperative jurisdictions.