By letter dated 23 September 2016, Hungary nominated, by common accord with the Republic of Bulgaria, the Czech Republic, the Republic of Croatia, the Republic of Cyprus, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic, Mr Péter TÁRNOKI-ZÁCH (Head of Department for International Finance, Ministry for National Economy) for appointment as an Alternate Member of the Board of Directors of the EIB to succeed Ms  Martina KOBILICOVÁ, who had tendered her resignation.

By letter dated 29 September 2016, the Board of Governors was invited to vote on the proposed appointment.

The decision to appoint Mr Péter TÁRNOKI-ZÁCH was taken on 19 October 2016, the date on which the requisite majority of Governors' votes was reached.

The term of office of Mr Péter TÁRNOKI-ZÁCH 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.