Alexander Stubb has been appointed Vice-President and Member of the Management Committee of the European Investment Bank (EIB). He takes up his duties today, succeeding Jan Vapaavuori, who had tendered his resignation in June. Mr Stubb, a Finnish national, was appointed by the EIB’s Board of Governors on a proposal from the Finance Minister of the Republic of Finland and with the agreement of the shareholder constituency formed also by Austria, Estonia, Latvia, Lithuania and Sweden. In the Bank’s Management Committee,...

In the wake of Donald Trump signing off on stricter US sanctions against Russia, the Commission President Jean-Claude Juncker expressed his satisfaction, in principle, over the softening of the bill after the EU had expressed its concerns. "I stated at the G7 summit in Taormina, Italy, and at the G20 summit in Hamburg, Germany, that if the Americans proceeded , we would be ready to react adequately in a matter of days. As a result, a significant proportion of the...

Commission acts to preserve the Rule of Law in Poland; reports on progress on relocation and resettlement and shows solidarity with Italy on migration Rule of Law in Poland The European Commission acted today to protect the rule of law in Poland. The Commission substantiated its grave concerns on the planned reform of the judiciary in Poland in a Rule of Law Recommendation addressed to the Polish authorities. In the Commission's assessment, this reform amplifies the systemic threat to the rule...

First EUR 500m tranche of loan to the Enel Group signed. The EU bank will support the investments covering the period 2017-2021. E-distribuzione's plan to replace digital meters in Italy is fully supported by the European Investment Bank (EIB), which has approved total financing of EUR 1bn for the operation. A first tranche of EUR 500m was signed today in the presence of Dario Scannapieco, EIB Vice-President, Francesco Starace, CEO of Enel S.p.A., the company that provided security for the loan, and Gianluigi Fioriti, CEO of...

Commission acts to help regions build resilient economies in the era of globalisation Globalisation has brought enormous benefits to the less-developed economies of the world and many opportunities for Europeans; but while the benefits are widely spread, the costs are often borne unevenly as the Commission's reflection paper on harnessing globalisation highlighted. To take up the challenge of economic modernisation, Europe needs to empower its regions and help them create value. This means embracing innovation, digitisation, decarbonisation and developing people's skills. Today,...

President Werner Hoyer will lead the European Investment Bank (EIB) for another six-year term, starting on 1st of January 2018. He was reappointed today by the Board of Governors of the EIB, consisting of the Economy and Finance ministers of the 28 EU Member States. Werner Hoyer started his tenure as President of the EU bank on 1 January 2012, and is also the Chairman of the EIB’s Board of Directors. Over the last five and a half years he has...