By letter dated 7 December 2011, the Republic of Latvia nominated Ms Sanita Bajāre (State Secretary of the Ministry of Finance) for appointment as Full Member of the Board of Directors of the EIB to succeed Ms Irēna Krūmane who had tendered her resignation.

By letter dated 14 December 2011, the Board of Governors was invited to vote on the proposed appointment.

The decision to appoint Ms Sanita Sanita Bajāre was taken on 9 January 2012, the date on which the requisite majority of Governors' votes was reached.

The term of office of Ms Sanita Bajāre will expire in 2013 at the end of the day of the approval by the Board of Governors of the Annual Report, the Balance Sheet and Profit and Loss Account for the 2012 financial year.