EN Official Journal of the European Union C 100/7

DECISION OF THE BOARD OF GOVERNORS

of 31 December 2012

on the increase in the capital of the European Investment Bank

2013/C 100/03

THE BOARD OF GOVERNORS OF THE EUROPEAN INVESTMENT BANK,

HAVING REGARD to Articles 4(3) and 5(2) of the Statute,

WHEREAS:

(1) The task of the Bank is set out in Article 309 of the Treaty on the Functioning of the European Union.

(2) The recent economic developments in the EU call for enhanced action to be undertaken by the EIB, in particular with a view to respond to the European Council invitation to contribute to sustainable growth and employment in the EU.

(3) A capital increase with an actual cash payment by existing shareholders is considered as the most effective way to reinforce the EIB’s lending capacity while strengthening the capital position of the EIB, thus responding to the current needs, whilst making sure that its highest credit standing in the financial markets is maintained.

(4) It is crucial that all available EIB financing in the EU makes an optimal contribution to sustainable growth and employment in all Member States, particularly in the less developed regions.

(5) While the EIB will maintain a sectoral approach in line with the Europe 2020 objectives, the Bank will develop, in cooperation with Member States, result-driven investment strategies properly tuned to regional growth priorities to be used from 2013 onwards.

(6) The quality of the Bank’s loan portfolio should be maintained at the highest standard and the Bank should remain an attractive partner in all EU Member States, and should ensure an optimal value added of its operations.

(7) According to the deliberations of the Board of Directors on the Bank's requirements for the capital at its meeting on 24 July 2012, the subscribed capital of the Bank should be increased to EUR 242 392 989 000; the portion to be paid in should increase from 5 % to 8,919255272 % of the subscribed capital, funded by the Member States in proportion to their current share of EIB capital, and the reserve fund should progressively be rebuilt by the Bank to its statutory requirement of 10 % of the subscribed capital,

BEARING IN MIND that, on 1 July 2013, following the entry into force of the Treaty of Accession of Croatia, Croatia will become a member of the Bank; on this occasion, a further capital increase shall be considered with a view to maintain the alignment between Croatia’s shareholding in the Bank and its relative gross domestic product within the European Union published by Eurostat before accession,

UNANIMOUSLY DECIDED, on a proposal from the Board of Directors, in accordance with Articles 4(3) and 5(2) of the Statute, that:

1. With effect from 31 December 2012, the capital of the Bank shall be increased as follows: The capital subscribed by the Member States shall be raised pro rata by EUR 10 billion, namely from EUR 232 392 989 000 to EUR 242 392 989 000. This aggregate capital contribution shall be distributed across Member States as described below: Germany 1 617 003 000 France 1 617 003 000 Italy 1 617 003 000 United Kingdom 1 617 003 000 Spain 970 202 000 Belgium 448 222 000 Netherlands 448 222 000 Sweden 297 351 000 Denmark 226 947 500 Austria 222 499 500 Poland 206 984 000 Finland 127 834 500 Greece 121 579 000 Portugal 78 351 000 Czech Republic 76 379 000 Hungary 72 258 000 Ireland 56 737 000 Romania 52 395 000 Slovakia 25 999 500 Slovenia 24 138 000 Bulgaria 17 652 000 Lithuania 15 146 000 Luxembourg 11 347 500 Cyprus 11 127 000 Latvia 9 243 000 Estonia 7 138 000 Malta 4 235 500 This capital shall be deemed to be part of the subscribed and paid-in capital, thus increasing the Bank's paid-in capital from EUR 11 619 649 450 to EUR 21 619 649 450.

2. The portion to be paid-in by Member States shall increase from 5 % to 8,919255272 % on average of the subscribed capital, as a result of the present increase.

3. Each Member State shall pay its share in the capital increase as soon as possible after the date of approval by the Board of Governors, but no later than 31 March 2013. However, Member States which have notified the Bank on or before 14 September 2012 will be allowed to pay their respective share of the capital increase in three instalments, 50 % no later than 31 March 2013 and the remaining 50 % in two equal instalments no later than 31 March 2014 and 31 March 2015,

CONSEQUENTLY:

4. The Bank's Statute shall be amended, as from 31 December 2012, as follows: The first subparagraph of Article 4(1) of the Bank's Statute shall read: ‘The capital of the Bank shall be EUR 242 392 989 000, subscribed by the Member States as follows: Germany 39 195 022 000 France 39 195 022 000 Italy 39 195 022 000 United Kingdom 39 195 022 000 Spain 23 517 013 500 Belgium 10 864 587 500 Netherlands 10 864 587 500 Sweden 7 207 577 000 Denmark 5 501 052 500 Austria 5 393 232 000 Poland 5 017 144 500 Finland 3 098 617 500 Greece 2 946 995 500 Portugal 1 899 171 000 Czech Republic 1 851 369 500 Hungary 1 751 480 000 Ireland 1 375 262 000 Romania 1 270 021 000 Slovakia 630 206 000 Slovenia 585 089 500 Bulgaria 427 869 500 Lithuania 367 127 000 Luxembourg 275 054 500 Cyprus 269 710 500 Latvia 224 048 000 Estonia 173 020 000 Malta 102 665 000’. The first paragraph of Article 5 of the Bank's Statute shall be amended as set out below: ‘The subscribed capital shall be paid in by Member States to the extent of 8,919255272 % on average of the amounts laid down in Article 4(1).’

5. This decision shall be published in the Official Journal of the European Union.