By letter dated 21 June 2019, Mr Nuno GRACIAS FERNANDES (Professor of Finance at Católica-Lisbon School of Business & Economics) was nominated by the Portuguese Republic, by common accord with the constituency of the Kingdom of Spain, for appointment as a member of the Audit Committee of the European Investment Bank, to succeed Mr Duarte PITTA FERRAZ, whose term of office as Member of the Audit Committee expired on 14 June 2019.
By letter dated 25 June 2019, the Board of Governors was invited to vote on the proposed appointment.
The decision to appoint Mr Nuno GRACIAS FERNANDES was taken on 16 July 2019, the date on which the requisite majority of Governors’ votes was reached.
The new member of the Audit Committee is appointed for a non-renewable term of office of six (6) years, expiring in 2025, at the end of the day either of the Annual Meeting or of the approval of the financial statements for the previous financial year, whichever is later.
Right to Complaint, Grievance Mechanism on Internationally Funded Projects
Latin America and the Caribbean receive billions of dollars from international organisations every year for projects that aim to transform lives and promote development.