Board of Governors

The Board of Governors comprises Ministers designated by each of the 27 Member States, usually Finance Ministers.

It lays down credit policy guidelines, approves the annual accounts and balance sheet, and decides on the Bank’s participation in financing operations outside the European Union as well as on capital increases. It also appoints the members of the Board of Directors, the Management Committee and the Audit Committee.

Find out more about the remuneration of the members of the EIB Statutory bodies.

Two independent committees report annually to the Board of Governors:

Ethics and Compliance Committee

Makes decisions on potential conflicts of interest of current and former members of the Board of Directors, the Management Committee and the Audit Committee and provides opinions on other ethical issues

Appointment Advisory Committee

Gives non-binding opinions on candidates' suitability to perform the duties of a member of the Management Committee and of a full member or an observer of the Audit Committee

The Audit Committee is an independent body answerable directly to the Board of Governors.