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EIB appoints new vice-president

Darius McQuaid | 07:28 Wednesday 9th August 2017

The former prime minister of Finland Alexander Stubb has been appointed the vice-president and member of the management committee of the European Investment Bank (EIB).

He started his new role on 1st August 2017 when he succeeded Jan Vapaavuori, who resigned from the EIB in June.

Alexander was appointed by the EIB's board of governors after a recommendation from the finance minister of Finland and with the agreement of the shareholder constituency formed by Austria, Estonia, Latvia and Sweden.

In the bank's management committee, Alexander will oversee EIB operations in Denmark, Estonia, Finland, Latvia, Lithuania and Sweden and in several countries outside the European Union.

Alexander said: “I am thrilled to be joining the EIB and look forward to putting my experience at the service of its continuing success.

“…The EIB is a European success story: it fosters investment in viable projects, helps make Europe more competitive worldwide and puts money and people to work.

“It has been called to tackle the historic difficulties that face Europe as a whole, and it has demonstrated that it could deliver and rise to the challenge.

“I am proud to [have been] given the opportunity to work for the EU bank.”

Prior to taking up this role, Alexander served as finance minister, foreign minister and trade and Europe minister of Finland, in addition to his spell as prime minister (June 2014 to May 2015).

He has a background in academia and the civil service, with a focus on EU affairs.

The management committee is the EIB's permanent collegiate executive body – which comprises a president and eight vice-presidents – and oversees the day-to-day running of the EIB as well as making sure the board of director's decisions are put into action.

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