EIF's strong governance is key to EIF success and has been noted by the external credit rating agencies. Further control and evaluation is carried out by several different authorities.
EIF is managed by :
- Chief Executive
- Board of Directors
- General Meeting
- Audit Board
The
Chief Executive is responsible for the day-to-day management of the EIF and reports to a Board of Directors, which brings together members designated by the three shareholder groups 10-12 times a year.
In addition to its supervisory role, the
Board of Directors is responsible for approving our operations. The Board of Directors is accountable only to the General Meeting.
The
General Meeting is composed of one representative of the European Investment Bank, usually its President or a Vice-President, one member of the European Commission representing the European Union, as well as a representative from each Financial Institution. All
Shareholders meet once a year at the Annual General Meeting (AGM), in particular to approve EIF's Annual Report and accounts as audited by the Audit Board. Shareholders also meet for information sessions during the year.
The
Audit Board is an independent body appointed by, and answerable directly to, the General Meeting. The Audit Board's role is to confirm that our operations have been carried out in compliance with the procedures laid down in
EIF Statutes and in
EIF's Rules of Procedure. They also verify that the accounts give a true and fair view on EIF's assets and liabilities and the results of our operations.
