By letter dated 29 October 2009, the Italian Republic nominated Ms Francesca Mercusa (Director of the Office for European Investment Bank, Mediterranean and Balkans, Department of the Treasury, Directorate of International Relations) for appointment as an Alternate Member of the Board of Directors.

By letter dated 5 November 2009, the Board of Governors were invited to vote on the proposed appointment.

The decision to nominate Ms Francesca Mercusa was taken on 25 November 2009, the date on which the requisite majority of Governors' votes was reached.

The term of office of Ms Francesca Mercusa 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 are examined.