Kris Peeters joins as Vice-President on the EIB’s Management Committee, representing the Benelux countries.
Mr. Peeters will exert oversight on files such as mobility, security and defence, as well as operations in the ASEAN countries.
Kris Peeters has been appointed Vice-President and Member of the Management Committee of the European Investment Bank (EIB). He takes up his duties today, assuming the Benelux seat on the EIB’s Management Committee.
The EIB’s Board of Governors appointed Mr Peeters, a Belgian national, on a proposal from the Government of the Kingdom of Belgium and with the agreement of the EIB-shareholder constituency the country shares with the Grand Duchy of Luxembourg and the Kingdom of the Netherlands.
Upon joining the EIB, Kris Peeters remarked: “I am very honoured to join the European Investment Bank, the EU’s Bank, especially at a moment when the Bank accelerates the deployment of its efforts in climate change mitigation. Clearly, this engagement is there to stay and I am looking forward to making a difference with the team at the helm of the EU’s Climate Bank. In doing so I will pay special attention to mobility, a field in which significant and innovative changes are ahead of us, while also closely following security and defence, as well as operations in the ASEAN countries. I am also delighted that I can contribute to the recovery efforts of the Bank in tackling the economic fallout of the COVID-19 pandemic across Europe.”
Until his nomination as Vice-President, Mr Peeters served as Member of the European Parliament since 2019. Mr Peeters has a long-standing political career, starting in 2004, when he became Flemish Minister for Public Works, Energy, the Environment and Nature. Subsequently he was Minister-President of Flanders from 2007 until 2014, and was Deputy Prime Minister and Minister of Economy and Employment in the Belgian federal government of Prime Minister Charles Michel (2014-2019). Prior to his political career, Mr Peeters held leading roles at UNIZO, the Union of Self-employed Entrepreneurs and SMEs (1991-2004). Mr Peeters studied philosophy and law at Antwerp University and obtained a degree in taxation and accounting at the Vlerick Business School Ghent.
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 economy and finance ministers of the 27 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, notably regarding borrowing and lending operations.
The outbreak of COVID-19 in Europe had immediate and wide-ranging consequences for investment: according to the new edition of the EIB Investment Report 2020/2021 “Building a smart and green Europe in the COVID-19 era”, EU firms are likely to reduce investment by at least 25% in the year following the crisis. The report also shows that in a post-pandemic “new normal”, investment in digitalisation, innovation and climate will be more important than ever before. Without such investment, large sections of Europe’s economy risk falling behind. However, the European Union now has the opportunity to build on its leadership in green and digital technologies to recover from the pandemic, manage the climate transition and maintain its ability to compete in the global technology race.
In the year of the worst global health and economic crisis for generations, the European Investment Bank (EIB) Group rapidly redirected its business to fight the COVID-19 pandemic and its economic consequences on all fronts. It increased financing volumes to €76.8 billion, exceeding its own targets. A third of these funds, €25.5 billion, went into the immediate crisis response that started with a first package in March. Most of it went to small and medium-sized businesses to avoid insolvencies and job losses, especially in countries that did not have the budgetary means for massive national rescue packages.
The EIB Board of Directors today approved new financing totalling EUR 12.5 billion to support companies impacted by COVID-19, alongside accelerating renewable energy, sustainable transport and urban investment across Europe and around the world.