|
To this end, it raises on the markets substantial
volumes of funds which it directs on the most favourable terms towards
financing capital projects according with the objectives of the Union.
Outside the Union the EIB implements the financial
components of agreements concluded under European development aid and
cooperation policies.
Structure
The Board of
Governors consists of the ministers designated by each of the Member States,
usually the Finance Ministers. It lays down general directives on credit
policy, approves the balance sheet and annual report, commits the Bank with
respect to financing operations outside the Union and decides on capital increases.
It appoints members of the Board of Directors, the Management Committee and
the Audit Committee.
The Board of Directors consists of 26 Directors
and 16 Alternates appointed by the Board of Governors. The Member States
nominate 25 Directors and 15 Alternates, while the European Commission is
represented by one Director and one Alternate. Furhermore, the Board can
co-opt a maximum of 6 experts (3 Directors and 3 Alternates, without voting
rights.
The Management Committee, the collegiate
executive body, controls all current operations; it recommends decisions to
Directors and is then responsible for carrying them out; the Bank's
President, or in his absence one of the Vice-Presidents, chairs the meetings
of the Boards of Directors.
Since 1 May 2004, decisions have been taken by a
majority consisting of at least one third of members entitled to vote and
representing at least 50% of the subscribed capital.
Its Audit Committee, on the basis of work
carried out by internal monitoring and audit bodies and the external
auditors, verifies that the operations of the Bank have been conducted and
its books kept in a proper manner.
Web-site: http://www.eib.org/
Source: http://www.infoeuropa.ro/jsp/page.jsp?cid=190&lid=2&id=4753
|
HOME
