Andrew McDowell is appointed Vice-President of the EIB
- Sep 1, 2016
Andrew McDowell joined the EIB as Vice-President on 1st September, 2016. He is the first Irish member of the bank’s Management Committee for 12 years.
Andrew McDowell joined the European Investment Bank as Vice-President on 1st September, 2016. He is the first Irish member of the bank’s Management Committee for 12 years.
Prior to joining the European Investment Bank, Andrew McDowell was Economic Advisor to the Taoiseach, Ireland’s Prime Minister, since 2011. He has 20 years of experience in economic policy and public service management. Prior to working for the Taoiseach, Andrew was Chief Economist at the Irish business development agency, Forfás, and European Deputy Editor at the Economist Intelligence Unit. He holds an MBA from the Michael Smurfit Graduate School of Business and studied at John Hopkins University and University College Dublin.
“It is an honour and a privilege to join the European Investment Bank’s Management Committee. Demonstrating a firm response to the economic crisis, the European Investment Bank has played a key role unlocking new investment in social and economic infrastructure, improving access to finance and supporting improved economic opportunities both in Ireland and across Europe. I look forward to helping the EIB build on this proven track record and strengthen its role and relevance in the years ahead,” said Andrew McDowell, European Investment Bank Vice-President.
Andrew McDowell was appointed by the Governors of the European Investment Bank, consisting of the 28 European Union Finance Ministers. This follows his nomination by Irish Finance Minister Michael Noonan after an open and competitive process managed by the Irish Department of Finance, and a proposal by the EIB Board of Directors. His nomination was made in agreement with the shareholder constituency comprising of Romania, Greece, Denmark and Ireland. Based on this agreement, he is expected to serve as Vice-President for four years.
Owned directly by the 28 European Union member states, the European Investment Bank is the world’s largest international public bank and over the last five years has provided more than EUR 3.8 billion for long-term investment across Ireland. The EIB has supported investment in Ireland since 1973 and in recent years significantly increased and broadened lending activity in the country.
Recent investment backed by the European Investment Bank across Ireland has improved education, social housing, healthcare, flood protection, water, roads, ports and airports, energy and telecom infrastructure, as well as enabled increased small businesses lending.
EIB Vice-Presidents are appointed by the Board of Governors, on a proposal from the Board of Directors. The EIB President and eight Vice-Presidents constitute the Management Committee, the Bank’s permanent collegiate executive body. Under the authority of the President and the supervision of the Board of Directors, the Management Committee oversees the day-to-day running of the EIB, prepares decisions for Directors and ensures that these are implemented.