Page 72 - Annual Report 2010

ANNUAL REPORT 2010

70

Notes to the financial statements

1. General

The EUROPEAN INVESTMENT FUND (hereaf ter the «Fund» or “EIF”) was incorporated on 14 June 1994, in Luxembourg, as an international financial institution. The address of its registered office is 96, boulevard Konrad Adenauer, L-2968 Luxembourg.

The primary task of the Fund, while providing adequate return on equity, is to contribute to the pursuit of European Community objectives through:

„„ the provision of guarantees to financial institutions that cover credits to small and medium sized entities (”SME”);

„„ the acquisition, holding, management and disposal of equity participations;

„„ the administration of special resources entrusted by third parties, and

„„ associated activities.

for the year ended 31 December 2010 (in EUR)

The Fund operates as a partnership whose members are the European Investment Bank (hereafter the “EIB”), the European Union, represented by the Commission of the European Communities (the “Commission”), and a group of financial institutions of Member States of the European Union and of two candidate countries. The members of the Fund shall be liable for the obligations of the Fund only up to the amount of their share of the capital sub-scribed and not paid in.

The financial year of the Fund runs from 1 January to 31 December each year.

The EIB has a majority shareholding in the Fund. Conse-quently the Fund is included in the consolidated financial statements of the EIB Group. The consolidated financial statements are available at the registered office of the EIB at 98-100, boulevard Konrad Adenauer, L-2950 Luxembourg.