Governance
The EIB is governed by the:
- Board of Governors – usually the Finance Ministers of the Member States. Their mandate is to authorize EIB activities outside the Union, form credit policy guidelines and approve the annual account.
- Board of Directors – 28 members (one nominated by each member state and one by the European Commission). There are 18 Alternates, meaning that some of these positions will be shared by groupings of States. The Board also co-opts a maximum of 6 experts (3 Directors and 3 Alternates), who participate in the Board meetings in an advisory capacity, without voting rights. The Board has sole power to take decisions in respect of loans, guarantees and borrowings. They are responsible only to the bank.
- Management Committee – the President of the EIB and 8 Vice Presidents
- Audit Committee – 6 members appointed by the Board of Governors
Read more about this topic: European Investment Bank
Famous quotes containing the word governance:
“He yaf me al the bridel in myn hand,
To han the governance of hous and land,
And of his tonge and his hand also;”
—Geoffrey Chaucer (1340?–1400)