By letter dated 4 August 2015, the Italian Republic nominated Mr Stefano Scalera (Ministerial Adviser, Ministry of Economy and Finance) for appointment as an Alternate Member of the Board of Directors of the EIB.

By letter dated 26 August 2015, the Board of Governors was invited to vote on the proposed appointment.

The decision to appoint Mr Stefano Scalera was taken on 10 September 2015, the date on which the requisite majority of Governors' votes was reached.

The term of office of Mr Stefano Scalera will expire in 2018 at the end of the day either of the Annual Meeting or of the approval of the financial statements for the previous financial year, whichever is the later.