the EU bank

The EIB’s principles of sound governance are in accordance with the European Commission’s and European Parliament’s provisions on corporate governance and the supervision of financial services and take into account the OECD Principles of Corporate Governance of 2004.

The EIB has issued its own Statement on Corporate Governance, confirming the Bank’s commitment to good governance.

The Bank’s guiding principles on governance take into account the EIB’s dual role:

• as a financial institution, the EIB ensures that its financial statements give a true and fair view of its financial situation; it ensures that its business is conducted in accordance with the rules and procedures laid down in its Statute and Rules of Procedure and in line with best banking practice;
• as a European body promoting the policies of the EU, the EIB carries out its statutory role and the tasks assigned to it in a transparent manner, in accordance with the provisions applicable to it.

The Management Committee, which is the Bank’s permanent collegiate executive body, is under the authority of the President and the supervision of the Board of Directors and oversees the day-to-day running of the EIB, prepares decisions for Directors and ensures that these are implemented. The President chairs the meetings of the Board of Directors.

Each Member State’s share in the Bank’s capital is based on its economic weight within the European Union (expressed in terms of GDP) at the time of its accession.

The Bank’s Statute lays down the legal, financial and administrative framework for the Bank's activities; it was set out in a Protocol annexed to the Treaty of Rome establishing the European Economic Community, of which it forms an integral part.

Different codes of conduct are applicable to all the EIB’s decision-making bodies and staff members to satisfy conflict of interest requirements. Regarding possible conflicts of interest, individual declaration by members of the Board of Directors and abstentions from voting are recorded in the minutes of the Board of Directors’ meetings. Members of the Management Committee publish on the EIB’s website a personal statement on the other offices or positions they hold and also a public declaration of interests.

The principles of governance at the Bank extend to the EIB Group at large; the European Investment Fund (EIF) applies these principles, mutatis mutandis, in the course of its own activity. The EIF has published its own statement on Corporate Social Responsibility.