CELEX: 32013D0406(01)
Language: en
Date: 2012-12-31 00:00:00
Title: Decision of the Board of Governors of 31 December 2012 on the increase in the capital of the European Investment Bank

6.4.2013   
            
            
               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.
            
         
      
         
            For the Board of Governors
         
         
            The Chairman
         
         G. MATOLCSY
         
            The Secretary
         
         A. QUEREJETA