By letter of 9 January 2008, the Italian Republic nominated Mr Pietro Masci (Director of the Office for the European Investment Bank, the Mediterranean and the Balkans, Treasury Department, Ministry of Economy and Finance, Rome) for appointment as alternate member of the EIB's Board of Directors to replace Mr Giorgio Leccesi, who has resigned.

On 14 January 2008, the Governors of the EIB were invited by written procedure to vote on the proposed appointment.

The decision to appoint Mr Pietro Masci was taken on 29 January 2008, the date on which the Bank received the requisite majority of votes in favour from the Governors.

The term of office of Mr Pietro Masci 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 are examined.