Earlier this week the EIB Management Committee met in Dublin to coincide with the EU Presidency. Alongside a working dinner and a full management committee meeting in Dublin Castle being in Ireland enabled visits to recent EIB funded projects, such as the Trinity College Biomedical Centre and announcements of new engagement.
The Management Committee is the Bank’s permanent collegiate executive body. It has nine members. Under the authority of the President and the supervision of the Board of Directors, it oversees the day-to-day running of the EIB, prepares decisions for Directors and ensures that these are implemented. The President chairs the meetings of the Management Committee. The members of the Management Committee are responsible solely to the Bank; they are appointed by the Board of Governors, on a proposal from the Board of Directors, for a renewable period of six years.
Finance Minister Noonan and Minister for Public Expenditure and Reform Howlin held fruitful discussions with the Management Committee following in-depth presentations detailing the current economic situation in Ireland and showing the significant progress being made towards the end of the Troika programme in December. Meetings were also held with Cabinet Ministers responsible for SME’s, education and transport.
The EIB’s strong engagement to support crucial investment in Ireland was warmly welcomed and new announcements highlighting engagement to stimulate SME investment with Allied Irish Bank, confirmation of the financial close of the N11 road project and appraisal of a key link in the Dublin tram system demonstrated the broad nature of EIB involvement.
Finance Minister Noonan publically thanked President Hoyer and his EIB colleagues for supporting recovery, investment and job creation in Ireland. Minister Howlin highlighted that the EIB supported investment in the country’s infrastructure is a key enabler of economic advancement providing the capacity and scope for growth in national output in Ireland. Investment in economic and social infrastructure was seen as essential to help maintain competiveness and improving productive capacity in the economy.
Significant media coverage of the visit demonstrated the EIB’s firm commitment to supporting long-term investment in key sectors in Ireland and increased visibility amongst key stakeholders. National newspapers, television and radio all highlighted the EIB’s recent lending activity, current engagement and broad scope of future activity, including possible expansion of the Jessica and Jeremie schemes to support urban renewal and SME investment.