Ernst-Günther Bröder, EIB President from August 1984 to March 1993 ©EIB

Ernst-Günther Bröder, fourth President of the European Investment Bank (from 1984 to 1993), has passed away at the age of 86.

Born in Cologne in 1927, Ernst-Günther Bröder obtained a Doctorate in Economics from the University of Freiburg, Germany, and began his professional career at the Bayer Corporation in 1956. After a short spell at the World Bank, he joined the Kreditantstalt für Wiederaufbau in 1964 where he rose to be a member of the Managing Board.

As president of the EIB between August 1984 and March 1993, he guided the Bank through a period of change and growth marked by the accession of Spain and Portugal to the EEC in 1986, the Single European Act and the fall of the Berlin Wall. He oversaw the first loans to Poland and Hungary that helped prepare for European enlargement to the East.

After leaving the EIB, he became the first Chair of the World Bank Inspection Panel and a member of the Panel of Conciliators for the International Centre for Settlement of Investment Disputes.