The FINANCIAL -- Recent Slovenian media reports have said that Slovenia would nominate a Vice-President to the European Investment Bank to replace the French Vice President Philippe de Fontaine Vive Curtaz.

These reports are incorrect. The mandate of Vice-President Philippe de Fontaine Vive Curtaz as a member of the Bank's Management Committee has been renewed for six years in February 2009 and runs until February 2015.
 
The Management Committee of the EIB consists of a President and eight Vice-Presidents appointed for a period of six years by the Board of Governors on a proposal from the Board of Directors. Their appointments are renewable. When a member of the Management Committee retires from his mandate a successor is nominated.

According the Bank's statute a potential Slovenian Vice-President would be a candidate agreed upon by the following group of countries: Bulgaria, Czech Republic, Cyprus, Hungary, Malta, Poland, Slovenia and the Slovak Republic. Thus, a potential Slovenian Vice-President could not replace a French Vice-President. Currently the Vice-President from this group is Marta Gajecka from Poland who has been appointed in August 2007.

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