Emma Navarro has been General Secretary of the Treasury and Financial Policy in Spain and Member of the Bank of Spain Governing Council and Board Member of the Spanish National Securities Market Commission. Prior to this, she had been President of Instituto de Crédito Oficial (ICO), Director of the Office of the Minister for Economic Affairs, Industry and Competitiveness and advisor at the International Monetary Fund. Previously, Emma Navarro held various positions in the public sector in Spain.
Upon joining the EIB, Emma Navarro stated: “I am pleased to join the EU bank and to be part of an institution that fosters investment to improve people´s lives. 2018 marks the 60th anniversary of the EIB and I am convinced that both the EU and the Bank have much to celebrate. In these 60 years, the EIB has fostered cohesion and promoted the modernisation of the European economy, triggering growth and employment and making it more competitive. I am delighted to be able to contribute to this success story.”
The Management Committee is the EIB’s permanent collegiate executive body, consisting of a President and eight Vice-Presidents. The members of the Management Committee are appointed by the Board of Governors – the Finance Ministers of the 28 EU Member States.
Under the authority of Werner Hoyer, President of the EIB, the Management Committee collectively oversees the day-to-day running of the EIB as well as preparing and ensuring the implementation of the Board of Directors' decisions.
Covestro has agreed a loan with the EIB for EUR 225 million. The loan will provide medium term funding to strengthen Covestro’s research and development (R&D) work in the areas of sustainability and circular economy within the European Union.
With €5.4 billion of overall financing 2019 was a strong year for the EIB Group in Poland. The Group’s activity was 13 % higher than in the previous year and in line with the trend of the past five years. Loans granted to public and private counterparts by the EIB amounted to €4.3 billion, while the European Investment Fund (EIF) provided €1.1 billion in guarantees and equity investments to small and medium-sized businesses and mid-caps.
The EIB has signed a €480 million loan agreement with LG Chem Wroclaw Energy, the Polish subsidiary of the LG Chem Group that was established to develop the group’s battery production facility in Europe. The financing will be used for the construction and operation of highly automated and innovative manufacturing facilities for advanced lithium-ion (li-ion) cells and batteries for battery-powered electric vehicles (BEVs). The EIB financing will cover around a third of the total project costs, estimated at €1.5 billion. The remainder will come from the company’s own resources and from other financing sources.