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Annual Report 2009• Annual Report Volume II QH-AB-10-001-EN-C ISSN 1725-3446 Annual Report 2009 • Volume II Annual Report 2009 Volume II Volume European Investment Bank Group • European Investment Bank Group • European Investment Bank Group • European Investment Bank Group European Investment Bank Group • European Investment Bank Group • European Investment Bank Group • European Investment Bank Group Volume II Annual ReportAnnual 2009 Financial Report © EIB – 05/2010 – EN QH-AB-10-001-EN-C ISSN 1725-3446 Annual Report 2009 European Investment Bank Group • European Investment Bank Group • European Investment Bank Group • European Investment Bank Group Volume II Financial Report The EIB Group’s 2009 Annual Report consists of three sepa- rate volumes: - the Activity and Corporate Responsibility Report, present- ing the EIB Group’s activity over the past year and future prospects; - the Financial Report, presenting the financial statements of the EIB Group (under IFRS and EU Directives), the EIB, the Cotonou Investment Facility, the FEMIP Trust Fund, the EU-Africa Infrastructure Trust Fund, the Neighbourhood Investment Facility Trust Fund and the EIF, along with the related explanatory annexes; - the Statistical Report, presenting in list form the projects financed and borrowings undertaken by the EIB in 2009, together with a list of the EIF’s projects. It also includes summary tables for the year and over the last five years. The Annual Report is also available on the Bank’s website (www.eib.org/report). EIB Group 2 Financial Report 2009 EIB Group: key statutory figures European Investment Bank Activity in 2009 (EUR million) Projects approved 103 898 European Union 93 615 Partner countries 10 283 Signatures 79 102 European Union 70 505 Partner countries 8 597 Disbursements 54 022 European Union 48 898 Partner countries 5 123 Resources raised (before swaps) 79 386 Core currencies (EUR, GBP, USD) 70 205 Other currencies 9 182 Situation as at 31.12.2009 Outstandings Loans disbursed 324 150 Loans to be disbursed 81 843 Financing from budgetary resources 1 416 Borrowings 305 758 Own funds 37 954 Balance sheet total 361 871 Net profit for year 1 877 Subscribed capital 232 393 of which called up 11 620 European Investment Fund Activity in 2009 Signatures 3 031 Venture capital (39 funds) 733 Guarantees (22 operations) 2 298 Situation as at 31.12.2009 Portfolio 17 697 Venture capital — assets under management (307 funds) 4 103 Guarantees — positions (168 operations) 13 594 Accumulated signatures Venture capital (307 funds) 5 136 Guarantees (168 operations) 13 987 Own funds 1 015 Balance sheet total 1 157 Net profit for year -7 Subscribed capital 2 940 of which called up 588 Financial Report 2009 3 EIB Group Contents EIB Statutory Bodies 4 EIF Statutory Bodies 7 EIB Financing Activity 8 EIB Borrowing Activity 10 EIB Treasury Activity 13 EIF Activity 15 Audit and Control 18 EIB 21 ➾ Results for the Year 23 ➾ Financial Statements 24 ➾ Independent Auditor’s Report 78 ➾ Statement by the Audit Committee 79 EIB Group (EU Directives) 81 ➾ Consolidated Results for the Year 83 ➾ Financial Statements 84 ➾ Independent Auditor’s Report 139 ➾ Statement by the Audit Committee 140 EIB Group (IFRS) 141 ➾ Consolidated Results for the Year 143 ➾ Financial Statements 144 ➾ Independent Auditor’s Report 221 ➾ Statement by the Audit Committee 222 Investment Facility 223 ➾ Financial Statements 224 ➾ Independent Auditor’s Report 243 ➾ Statement by the Audit Committee 244 FEMIP Trust Fund 245 ➾ Financial Statements 246 ➾ Independent Auditor’s Report 255 ➾ Statement by the Audit Committee 256 EU-Africa Infrastructure Trust Fund 257 ➾ Financial Statements 258 ➾ Independent Auditor’s Report 264 ➾ Statement by the Audit Committee 265 Neighbourhood Investment Facility Trust Fund 267 ➾ Financial Statements 268 ➾ Independent Auditor’s Report 275 ➾ Statement by the Audit Committee 276 EIF 277 ➾ Independent Auditor’s Report 278 ➾ Statement by the Audit Board 279 ➾ Financial Statements 280 EIB Group Addresses 323 EIB Group 4 Financial Report 2009 EIB Statutory Bodies Situation at 11/03/2010 The composition of the Bank’s statutory bodies, the curricula vitae of their members and additional information on the remuneration arrangements are regularly updated and posted on the EIB’s website: www.eib.org. Board of Governors Chairman Einars REPŠE (Latvia) Belgium Didier REYNDERS Deputy Prime Minister and Minister for Finance and Institu- tional Reforms Bulgaria Simeon DJANKOV Deputy Prime Minister, Minister for Finance Czech Republic Eduard JANOTA Minister for Finance Denmark Brian Arthur MIKKELSEN Minister for Economic Affairs, Trade and Industry Germany Wolfgang SCHÄUBLE Federal Minister for Finance Estonia Jürgen LIGI Minister for Finance Greece George PAPACONSTANTINOU Minister for Finance Spain Elena SALGADO Second Deputy Prime Minister and Minister for Economic Affairs and Finance France Christine LAGARDE Minister for Economic Affairs, Industry and Employment Ireland Brian LENIHAN Minister for Finance Italy Giulio TREMONTI Minister for Economic Affairs and Finance Cyprus Charilaos STAVRAKIS Minister for Finance Latvia Einars REPŠE Minister for Finance Lithuania Ingrida ŠIMONYTÉ Minister for Finance Luxembourg Jean-Claude JUNCKER Prime Minister, Ministre d’État, Minister for the Treasury Hungary Péter OSZKÓ Minister for Finance Malta Tonio FENECH Minister of Finance, Economy and Investment Netherlands Jan Cornelis DE JAGER Minister for Finance, Deputy Prime Minister Austria Josef PRÖLL Vice Chancellor and Federal Minister for Finance Poland Jan VINCENT-ROSTOWSKI Minister for Finance Portugal Fernando TEIXEIRA DOS SANTOS Ministro de Estado, Minister for Finance Romania Sebastian VLĂDESCU Minister for Public Finance Slovenia Franc KRIŽANIČ Minister for Finance Slovakia Ján POČIATEK Minister for Finance Finland Mari KIVINIEMI Minister of Public Administration and Local Government Sweden Anders BORG Minister for Finance United Kingdom Alistair DARLING Chancellor of the Exchequer Audit Committee Chairman Ortwin KLAPPER Former Chief Executive Officer of Bank Austria Creditanstalt Leasing Group Members Gerard SMYTH Secretary and Director of Audit at the Office of the Comptroller and Auditor General, Dublin Éric MATHAY Corporate Auditors, Buelens, Mathay, Matis & Associates, Brussels José RODRIGUES DE JESUS Chartered Auditor, Oporto Danièle NOUY Secretary General of Prudential Control Authority, Banque de France, Paris Joseph G. GALEA Adviser to the Auditor General, Malta Management Committee President Philippe MAYSTADT Vice-Presidents Philippe de FONTAINE VIVE CURTAZ Eva SREJBER Simon BROOKS Marta GAJĘCKA Carlos da SILVA COSTA Dario SCANNAPIECO Matthias KOLLATZ-AHNEN Plutarchos SAKELLARIS Financial Report 2009 5 EIB Group Board of Directors The Board of Directors consists of 28 Directors, with one Director nominated by each Member State and one by the European Commission. There are 18 Alternates, meaning that some of these positions will be shared by groupings of States. Furthermore, in order to broaden the Board of Directors’ professional expertise in certain fields, the Board is able to co-opt a maximum of six experts (three Directors and three Alternates), who participate in the Board meetings in an advisory capacity, without voting rights. Directors Olivier HENIN Executive Director, Head of Policy Unit, Ministry of Finance, Brussels Dimiter IVANOVSKI Member of the Managing Board, Centre for Economic Development, Sofia Zdenĕk HRUBÝ General Director, Ministry of Finance, Prague Sigmund LUBANSKI Head of Office, Special Advisor, Ministry of Economic Affairs, Trade and Industry, Copenhagen Ralph MÜLLER Head of EU Budget Department, Federal Ministry of Finance, Berlin Ivar SIKK Deputy Secretary General, State Budget and Governance Policy, Ministry of Finance, Tallinn Panagiotis DROSSOS Manager, Wholesale Products Division, Alpha Bank, Athens María Jesús FERNÁNDEZ GARCÍA Director General for International Finance, Ministry of Economic Affairs and Finance, Madrid Michel HOUDEBINE Head of European Affairs Department, Treasury and Economic Policy Directorate General, Ministry of Economic Affairs, Industry and Employment, Paris Michael SOMERS Director, Allied Irish Banks and other companies, Dublin Carlo MONTICELLI Head of International Financial Relations, Treasury Department, Ministry of Economic Affairs and Finance, Rome Kyriacos KAKOURIS Senior Economic Officer, Ministry of Finance, Nicosia Irēna KRŪMANE Chairwoman of the Financial and Capital Market Commission, Ministry of Finance, Riga Jurgita UZIELIENĖ Deputy Director, European Union and International Affairs Department, Ministry of Finance, Vilnius Gaston REINESCH Director General, Ministry of Finance, Luxembourg János ERŐS Chief Executive Officer, Hungarian Development Bank Ltd., Budapest Vincent GRECH Consultant to the Government of Malta, Ministry of Finance, Economy and Invest- ment, Valletta Pim VAN BALLEKOM Financial Counsellor, Permanent Representation of the Netherlands to the EU, Brussels Wolfgang NITSCHE Deputy Head of Division for Coordination of European Integration Matters and Trade Policy, Federal Ministry of Finance, Vienna Jacek DOMINIK Undersecretary of State, Ministry of Finance, Warsaw Álvaro Pinto Coelho de AGUIAR Chief Economist, Cabinet of the Ministro de Estado and Minister for Finance, Ministry of Finance and Public Administration, Lisbon Bogdan Alexandru DRAGOI Secretary of State, Ministry of Public Finance, Bucharest Katja BOŽIČ Director General, Financial System Directorate, Ministry of Finance, Ljubljana Katarina KASZASOVÁ Director General of the State Reporting Section,
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