By letter dated 14 January 2015, the Portuguese Republic nominated Ms Elsa Roncon Santos (Director General for Treasury and Finance, Ministry of Finance) for appointment as a Full Member of the Board of Directors of the EIB to succeed Mr Pedro Machado, who had tendered his resignation. By letter dated 19 January 2015, the Board of Governors was invited to vote on the proposed appointment.

The decision to appoint Ms Roncon Santos was taken on 28 January 2015, the date on which the requisite majority of Governors' votes was reached.

The term of office of Ms Roncon Santos will expire in 2018 at the end of the day either of the Annual Meeting or of the approval of the financial statements for the previous financial year, whichever is the later.