By letter of 23 November 2006, the United Kingdom of Great Britain and Northern Ireland nominated Mr Jean-Christophe Gray (Head of EU Finances Division, HM Treasury) for appointment as alternate member of the EIB's Board of Directors to succeed Mr Chris Austin, who has resigned.

On 28 November 2006, the Governors of the EIB were invited by written procedure to vote on this proposed appointment.

The decision to appoint Mr Jean-Christophe Gray was taken on 15 December 2006, the date on which the Bank received the requisite majority of votes in favour from the Governors.

Mr Jean-Christophe Gray has been appointed for the remainder of his predecessor's term of office, which will expire in 2008 at the end of the day of the Annual Meeting of the Board of Governors during which the annual report, balance sheet and profit and loss account for the 2007 financial year will be examined.