On March 23, 2015 the International Investment Bank published its first Communication on Progress — a public disclosure to stakeholders on progress made in implementing the principles of the United Nations Global Compact — the largest international voluntary initiative in the field of corporate social responsibility.

Joining the UN Global Compact a year ago became an important milestone of the Bank’s comprehensive reform, aimed at its transformation into a modern multilateral institution for development, which carries out its activities in accordance with the best international practices and standards including those in the sphere of corporate social responsibility (CSR) and sustainable development.

By publishing the Communication on Progress, the IIB confirmed its commitment to work under the ten fundamental principles of the UN Global Compact concerned with human rights protection, labor relations protection, environmental protection and fighting corruption.

The IIB’s statement summarises the efforts to embed these important principles in all the aspects of the Bank’s activities including its CSR policy adopted in October, 2014.

In his introduction to the Communication on Progress the Chairman of the Board Nikolay Kosov emphasized the IIB’s intentions to regularly inform in future other participants of the UN Global Compact as well as all stakeholders about the Bank’s achievements in the field of sustainable development.