By letter dated 10 May 2006, the Kingdom of Belgium nominated Mr Olivier Henin (Deputy Director, Head of Financial and International Markets Unit, Cabinet of the Belgian Finance Minister) for appointment as full member of the EIB's Board of Directors to replace Mr Arnoldi, who had tendered his resignation.

On 19 May 2006, the Governors of the EIB were invited by written procedure to vote on the proposed appointment. The decision to appoint Mr Henin was taken on 6 June 2006, the date on which the Bank received the requisite majority of votes in favour by the Governors.

Mr Olivier Henin has been appointed for the remainder of his predecessor's term of office, which will expire in 2008 at the end of the annual meeting of the Board of Governors in which the annual report, balance sheet and profit and loss account for the 2007 financial year will be examined.