According to the EIB's Statute, the members and alternate members of the Board of Directors are appointed by the Board of Governors for a renewable period of five years.
The Board of Directors consists of 28 Directors, with one Director nominated by each of the 27 Member States and one by the European Commission. There are 18 Alternates, meaning that some of these positions will be shared by groupings of States
As the term of office of the Full and Alternate Members of the EIB's Board of Directors expired at the end of the day of the Annual Meeting of the Board of Governors, the latter adopted the following new composition of the Board of Directors:
Directors:
- Olivier Henin (Deputy Director, Ministry of Fianance), reappointment proposed by Belgium;
- Dimiter Ivanovski (Deputy Minister, Ministry of Finance), reappointment proposed by Bulgaria;
- Zdeněk Hrubý (Member of the Board of Directors of the EIB), reappointment proposed by the Czech Republic;
- Sigmund Lubanski (Head of Office, Ministry of Economic and Business Affairs), reappointment proposed by Denmark;
- Carsten Pillath (Ministerial Director, Head of EU Policy Division, Federal Ministry of Finance), reappointment proposed by Germany;
- Ivar Sikk (Deputy Secretary General, State Budget and Governance Policy, Ministry of Finance), new appointment proposed by Estonia;
- Panagiotis Drosos (Secretary General of Investments and Development, Ministry of Economy and Finance), new appointment proposed by Greece;
- Isabel Riaño Ibáñez (Consejero Coordinator de Economia Deputy Director, International Financial Institutions Division, Ministry of Economy and Finance??), reappointment proposed by Spain;
- Claire Waysand (Head of Macroeconomic Policies and European Affairs Office, Directorate of the Treasury and Economic Policy, Ministry of the Economy, Finance and Industry), reappointment proposed by France;
- Michaël Somers (Chief Executive, National Treasury Management Agency), new appointment proposed by Ireland;
- Vacant position pending Italy's proposal of a replacement for Ignazio Angeloni;
- Kyriacos Kakouris (Senior Economic Officer, Ministry of Finance), reappointment proposed by Cyprus;
- Vacant position pending Latvia's proposal of a replacement for Irēna Krūmane;
- Miglė Tuskienė(Director of the European Union and International Relations Department, Ministry of Finance), reappointment proposed by Lithuania;
- Gaston Reinesch (Director General, Ministry of Finance), reappointment proposed by Luxembourg;
- János Erős (Chief Executive Officer, Hungarian Development Bank Ltd), reappointment proposed by Hungary;
- Vacant position pending Malta's proposal of a replacement for Vincent Grech;
- Pim Van Ballekom (Financial Counsellor, Permanent Representation of the Netherlands to the EU), reappointment proposed by the Netherlands;
- Wolfgang Nitsche (Deputy Head of the Division for Coordination of European Integration Matters and Trade Policy, Ministry of Finance), new appointment proposed by Austria;
- Jacek Dominik (Undersecretary of State, Ministry of Finance), new appointment proposed by Poland;
- Nuno de Sousa Pereira (Director General, Office for Strategic Planning, Economic Policy and International Affairs, Ministry of Finance and Public Administration), new appointment proposed by Portugal;
- Eugen Orlando Teodorovici (Secretary of State, Ministry of Economy and Finance), reappointment proposed by Romania;
- Andrej Šircelj (State Secretary, Ministry of Finance), new appointment proposed by Slovenia;
- Katarina Kaszasová (Director General of State Reporting Section, Ministry of Finance), reappointment proposed by Slovakia;
- Tytti Noras (Legal Counsellor, Ministry of Finance), reappointment proposed by Finland;
- Kurt A. Hall (Director General for International Affairs, Ministry of Finance), reappointment proposed by Sweden;
- Peter Curwen (Director, Europe, HM Treasury), new appointment proposed by the United Kingdom;
- Marco Buti (Deputy Director General for Economic and Financial Affairs), new appoitnment proposed by the European Commission;
- Michael Kruse (Head of Section, Federal Ministry of Economy and Technology ), new appointment proposed by Germany;
- Ralph Müller (Head of the Department for the EU Budget, Federal Ministry of Finance), reappointment proposed by Germany;
- Jean-Michel Severino (Director General, Groupe Agence Française de Développement), reappointment proposed by France;
- Michel Houbedine (Assistant Director for European Affairs, Directorate-General of the Treasury and Economic Policy, Ministry of the Economy, Finance and Industry), reappointment proposed by France;
- Pietro Masci (Director of the Office for European Investment Bank, Mediterranean and Balkans, Ministry of Economy and Finance), reappointment proposed by Italy;
- Vacant position pending Italy's proposal of a replacement for Giampaolo Bologna;
- Jean-Christophe Gray (Head of EU Coordination and Strategy, HM Treasury), reappointment proposed by the United Kingdom;
- Tamsyn Barton (Head of European Union Department, Department for International Development), reappointment proposed by the United Kingdom;
- Vacant position pending proposal by common accord between Spain and Portugal of a replacement for Alicia Varela;
- Rudolf de Korte (Alternate on the EIB's Board of Directors), reappointment proposed by common accord between Belgium, Luxembourg and the Netherlands;
- Rudolf de Korte (Alternate on the EIB's Board of Directors), reappointment proposed by common accord between Belgium, Luxembourg and the Netherlands;
- Stefan Nanu (General Director of General Department of Treasury and Public Debt, Ministry of Economy and Finance), reappointment proposed by common accord between Denmark, Greece, Ireland and Romania;
- Pauli Kariniemi (Financial Advisor, Ministry of Finance), new appointment proposed by common accord between Estonia, Latvia, Austria, Finland and Sweden;
- Vacant position pending proposal by common accord between Estonia, Latvia, Austria, Finland and Sweden of a replacement for Madis Üürike;
- Andrej Kavčič (Head of International Finance Department, Ministry of Finance), reappointment proposed by common accord between Bulgaria, the Czech Republic, Cyprus, Hungary, Malta, Poland, Slovenia and Slovakia;
- Zsuzsanna Varga (Director General, Department of International Relations, Ministry of Finance), reappointment proposed by common accord between Bulgaria, the Czech Republic, Cyprus, Hungary, Malta, Poland, Slovenia and Slovakia;
- Vacant position pending proposal by common accord between Bulgaria, the Czech Republic, Cyprus, Hungary, Malta, Poland, Slovenia and Slovakia;
- Dirk Ahner (Director General, Directorate General for Regional Policy, European Commission), reappointment proposed by the European Commission.
The terms of office of the members of the new Board of Directors will expire in 2013, at the end of the day of the Annual Meeting of the Board of Governors during which the annual report, balance sheet and profit and loss account for the 2012 financial year will be examined.