By letter dated 30 June 2016, the French Republic nominated Mr Rémy Rioux (Chief Executive Officer of Agence Française de Développement) for appointment as an Alternate Member of the Board of Directors of the EIB to succeed Ms Anne Paugam, who had tendered her resignation.

By letter dated 1 July 2016, the Board of Governors was invited to vote on the proposed appointment.

The decision to appoint Mr Rémy Rioux was taken on 13 July 2016, the date on which the requisite majority of Governors' votes was reached.

The term of office of Mr Rémy Rioux 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.