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About

ESM transparency framework

Transparency is an essential element of ESM’s governance and operations. As an international financial institution with a public mandate, the ESM has a number of measures ensuring that its stakeholders and the general public have a good understanding of its mandate and work. The ESM Board of Governors regularly reviews our transparency measures to guarantee they remain appropriate and up to date.

The ESM proactively publishes a wide range of policies and legal documents as well as programme related meeting documents of its governing bodies. Documents containing market-sensitive or other non-public information are subject to special safeguards, as the ESM Treaty and By-Laws foresee.

The ESM has also developed a comprehensive interactive database with comparable data related to all EFSF and ESM financial assistance programmes to date. Lastly, the ESM’s evaluation activities contribute substantially to the transparency and evaluability of the ESM core mandate.

ESM policies and legal documents

The ESM proactively publishes a comprehensive list of policies and related legal documents regarding the implementation of its mandate.

Board of Governors and Board of Directors meeting documents

Since 2016, the ESM regularly publishes certain programme-related documents approved by its Board of Governors and Board of Directors.

Board of Auditors key documents

The ESM Board of Auditors’ annual report to the Board of Governors, accompanied by ESM management comments issued in response, as well as other statutory documents related to the work of the Board of Auditors are published, underpinning, in this way, the ESM’s accountability framework.