By letter dated 4 May 2012, the European Commission nominated Mr Walter Deffaa (Director-General of the Directorate-General for Regional Policy) for appointment as Alternate Member of the Board of Directors of the EIB to succeed Mr Dirk Ahner, who had tendered his resignation.

By letter dated 9 May 2012, the Board of Governors was invited to vote on the proposed appointment.

The decision to appoint Mr Walter Deffaa was taken on 6 June 2012, the date on which the requisite majority of Governors' votes was reached.

The term of office of Mr Walter Deffaa will expire in 2013 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.