The Republic of Estonia nominated Mr Andres KUNINGAS (Head of the EU and International Affairs Department, Ministry of Finance) for appointment as a Full Member of the Board of Directors of the EIB to succeed Mr  Martin PÕDER, who had tendered his resignation.

By letter dated 18 November 2016, the Board of Governors was invited to vote on the proposed appointment.

The decision to appoint Mr Andres KUNINGAS was taken on 2 December 2016, the date on which the requisite majority of Governors' votes was reached.

The term of office of Mr Andres KUNINGAS 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.