By letter dated 6 September 2006, the Kingdom of Spain nominated Ms Isabel Riaño (Deputy Director, International Financial Institutions Division, Ministry of Economy and Finance) for appointment as full member of the EIB's Board of Directors, to replace Ms María Pérez Ribes, who had tendered her resignation.
On 8 September 2006, the Governors of the EIB were invited by written procedure to vote on this proposed appointment.
The decision to appoint Ms Isabel Riaño was taken on 22 September 2006, the date on which the Bank received the requisite majority of votes in favour by the Governors.
Ms Isabel Riaño has been appointed for the remainder of her predecessor's term of office, which will expire in 2008 at the end of the day of the annual meeting of the Board of Governors during which the annual report, balance sheet and profit and loss account for the 2007 financial year are examined.