The framework for the establishment, role and operating principles of its governing bodies are enshrined in the EIF’s Statutes and the Rules of Procedure.
While the Statutes set out the fundamental elements of authority and responsibilities across the EIF’s governing bodies, as well as the voting principles with regards to decision-making processes, the Rules of Procedure provide for the practical implementation of how and when decisions are taken within the context of the Statutes.
The EIF's governing bodies are composed of three decision-making authorities, one control body, and one decision-making and advisory committee. The Chief Executive is further assisted by the Executive and Senior Management Committee that meets regularly to support operational tasks and decisions.
The Chief Executive is appointed for a term of up to five years, which may be renewed. The CE is appointed and reports to the Board of Directors.
The Board of Directors is composed of seven members and seven alternates. They are appointed and are accountable to the General Meeting.
The General Meeting consists of one designated representative per shareholder. No term of office is imposed by the governance framework.
The Audit Board consists of six members, nominated by the shareholding groups. They are appointed and accountable to the General Meeting.
The Ethics and Compliance Committee consists of six members, including the longest serving members of the EIF Board of Directors.
The Governance of the EIF
This brochure answers questions related to the EIF’s statutory and governance framework, including the procedures for appointing the members of its governing bodies and the preparation of meetings and decision-making. Risk and compliance functions are also explained in further depth.
This report describes the EIB Group’s corporate governance practices in 2024, which comprises data on the Bank’s governance and shareholding structure as of 31 December 2024. This report is also available on the EIB website.
At inception, the EIF’s authorised capital was ECU 72 billion, equalling 2,000 shares with a nominal share value of ECU 1 million each, later converted to EUR (€).
As defined in the Statutes, the percentage of paid-in shareholder capital was fixed at 20%, a percentage which has remained unchanged.
The latest increase of the EIF’s authorised capital was decided by the General Meeting in February 2021, increasing it from €4.5 billion to €7.37 billion, through the issuance of 2,870 new shares, retaining a nominal share value of € 1 million each.
The EIF’s shares are dematerialised: no share certificates are issued and the shares are not listed on any external securities accounts.