Jonathan Taylor appointed as new EIB Vice-President
9 January 2013
Jonathan Taylor (57) has been appointed Vice-President and member of the Management Committee of the European Investment Bank (EIB) by the Bank’s Board of Governors, consisting of the 27 European Union Finance Ministers. Jonathan’s appointment took effect on 1st January following the end of Simon Brooks’ term of office.
Prior to his appointment at the EIB Jonathan was Director General for Financial Services at HM Treasury.
Jonathan Taylor commented: “I wish to pay tribute to my predecessor Simon Brooks for his many years of dedicated service to the European Investment Bank. Simon has made a highly impressive contribution towards the work of the Bank and I know his efforts are greatly appreciated by all at the EIB. As the new UK nominated member of the EIB’s Management Committee, I look forward to contributing to the EIB’s strategic development in the years ahead, focusing on efforts to increase long-term investment across the EU, ensuring effective use of increased lending activity following the recent capital increase, and fostering economic development around the world.”
The EIB is the European Union's financing institution. Its purpose is to promote the EU’s objectives by providing long-term finance in support of viable investment projects.
Over the last five years the EIB has provided nearly GBP 20 billion for long-term investment in the UK. This has included large infrastructure projects and support for small businesses through local banks, as well as lending to support a broad range of projects, including universities, schools, renewable energy and corporate research and development.
The Management Committee of the EIB is the permanent collegiate executive body of the institution. It is composed of a President and eight Vice-Presidents. Under the authority of the current President Werner Hoyer, it oversees the running of the EIB, prepares decisions for the Board of Directors and ensures that they are implemented. The members of the Management Committee are responsible solely to the Bank; they are appointed by the Board of Governors, on a proposal from the Board of Directors. The EIB’s Management Committee has its headquarters in Luxembourg.
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The EIB is set to support the development of new treatments for progressive vascular calcification, an area of significant unmet medical need where there are currently no approved treatments. To this end, the EU bank will provide a €20 million loan to Spanish biopharmaceutical company Sanifit, which is developing novel treatments in two disease indications linked to calcification.
The EIB and Italian biotech company EryDel SpA have signed a contract to provide a loan of €30 million to EryDel. This late-stage biotech company aims to develop and commercialise therapies based on its proprietary RBC technology for the treatment of rare diseases. The EU bank’s loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe under which the EIB and the European Commission are working together as strategic partners, with the EIB’s financing operations boosting the competitiveness of the European economy.