Annual Report 1984
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The European Investment Bank in 1984 and 1983 (million ECUs) Key data Total financing provided 6903-2 5947-8 of which — loans from own resources and guarantees 5 633-8 4 682-9 — financing from other resources (accounted for in the Speda! Section) 1 269-4 1 264-9 Operations within the Community Total 6 194-9 5 467 5 of which — loans from own resources and guarantees 5 013-1 4 255-7 including loans in Italy and Ireland subsidised under the European Monetary System — 687-8 subsidised loans for reconstruction work in earthquake- stricken areas of Italy 51-9 61-1 — loans from the resources of the New Community Instrument for borrowing and lending (NCI) 1181-8 1211-8 including loans in Italy and Ireland subsidised under the European Monetary System — 207-0 subsidised loans for reconstruction work in earthquake- stricken areas of Italy and Greece 14-6 208-1 Operations outside the Community Total 708-3 480-3 of which — financing from own resources 620-7 427-2 — financing from Community budgetary funds 87-6 53-1 Breakdown: Financing provided in the Mediterranean region 547-6 342-7 of which: Spain and Portugal 220-0 190-0 Financing provided in the African, Caribbean and Pacific (ACP) States and in the Overseas Countries and Territories (OCT) 160-7 137-6 Amount outstanding at 31 December in respect of loans from own resources and gua rantees 30192-0 25659-0 Amount outstanding at 31 D ecember in respect of operations accounted for in the Spe cial Section 7750-2 5915-9 Subscribed capital 14400-0 14400-0 of which: paid in and to be paid in 1 465-7 1 465-7 Reserves, provisions and operating income (at 31 December) 2 455-3 2 020-4 Funds raised during the ye ar 4 360-9 3 619-4 of which: medium and long-term borrowings 4 049-7 3 508-4 Medium and long-term borrowings outstanding at 31 Decem ber . 25 007-0 20 749-1 Balance sheet total at 31 Decemb er 34 960-0 29 543-7 European Investment Bank annual report 1984 This annual report is available also In the following languages; DA ISBN 92-861-0068-X DE ISBN 92-861-0069-8 FR ISBN 92-861-0072-8 GR ISBN 92-861-0070-1 Text finalised 14 May 1985 IT ISBN 92-861-0073-6 ISBN 92-861-0071-X NL ISBN 92-861-0074-4 List of tables Table 1: Financing provided in 1984, from 1980 to Table 12: Medium and long-term Bank loan issues in 1984 and from 1959 to 1984 1984: breakdown by currency 80 — broad breakdown by origin of resources and Table 13: Funds raised from 1961 to 1984 81 project location Table 14: List of borrowings in 1984 82 Table 2 ; Summary data 1975-1984; EEC — USA — Japan 14 Table 15; Financing from 1959 to 1984 103 Tables 3 and 4: Operations within the Community Table 16 : Financing provided within the Community in 1984: breakdown by project location, economic in 1984 and from 1980 to 1984 policy objective and sector — breakdown by economic policy objective 106 — from the Bank's own resources 28 Table 17: Financing provided within the Community — from NCI resources 30 from EIB own and NCI resources in 1984 Table 5: Financing provided within the Community in — sectoral breakdown 108 1984,1983 and from 1980 to 1984 Table 18 : Financing provided within the Community — geographical breakdown 35 from EIB own and NCI resources from 1980 to 1984 — sectoral breakdown 111 Table 6: Contribution made by global loans from own and NCI resources to total financing for industry, Table 19: Global loans provided within the Com agriculture and services from 1980 to 1984 36 munity from 1980 to 1984 — breakdown by economic policy objective and Table 7: Global loans and allocations in 1984 37 location 114 Table 8: Financing in Italy in 1984 Table 20: Allocations from global loans within the — breakdown by origin of resources, economic Community in 1984 and from 1980 to 1984 policy objective and sector 42 — breakdown by economic policy objective and region 115 Table 9: Amounts of Community financial aid pro vided for in conventions, financial protocols or de Tables 21 and 22: Financing provided from 1980 to cisions in force or under negotiation at 2 April 1985 68 1984 in the Mediterranean region — breakdown by project location and origin of Table 10: Financing provided in the Mediterranean resources 116 countries in 1984 — sectoral breakdown 116 — breakdown by project location and origin of Tables 23 and 24: Financing provided from 1976 to resources 69 1984 in the African, Caribbean and Pacific (ACP) Table 11: Financing provided in the African, Carib States and the Overseas Countries and Territories bean and Pacific (ACR) States and the Overseas (OCT) under the Lomé Conventions Countries and Territories (OCT) in 1984 — breakdown by project location and origin of — breakdown by project location and origin of resources 118 resources 72 — sectoral breakdown 119 List of graphs and maps Development of the Bank's activities 10 Borrowings from 1980 to 1984 and amount out Gross domestic product in the Community 13 standing at 31 December 1984 — breakdown by currency 80 Gross yields on bonds 16 Staff complement related to total Bank activity Financing provided within the Community in 1984 (1960-1984) 86 — breakdown by principal economic policy objec tive 31 Balance sheet of the Bank at 31 December of each year 87 Financing for projects contributing towards attaining Community energy objectives from 1980 to 1984 31 Financing provided inside and outside the Com munity from 1959 to 1984 101 Financing provided for regional development within the Community from 1980 to 1984 Financing within the Community (1980-1984) — sectoral and geographical breakdown 34 — breakdown by economic policy objective and project location 102 Financing provided within the Community in 1984 — breakdown by major sector 103 — breakdown by project location and major sector 32 — sectoral breakdown 37 Map: projects financed In the Mediterranean region from 1980 to 1984 and projects financed in the ACP Maps: Projects financed within the Community in 1984 States and the OCT from 1976 to 1984 104 — from own resources 38 Financing provided in the ACP States from 1976 to — from NCI resources 40 1984 Map: projects financed in the Mediterranean region, — breakdown by per capita GDP 105 the ACP States and the OCT in 1984 70 — sectoral breakdown 105 Contents Board of Governors — Audit Committee 4 Board of Directors 5 Management Committee — Organisation structure of the Bank 6 Unit of account 8 Financing provided in 1984 9 Economic background 11 Community guidelines 20 Operations within the Community 27 General survey 27 Financing operations by country 39 List of loans provided within the Community 48 Loans provided from the Bank's own resources 48 Loans provided from the resources of the New Community Instru ment for borrowing and lending (NCI) 61 Operations outside the Community 65 Lending in countries which have applied for accession 65 Financing in the other Mediterranean countries 69 Financing in the African, Caribbean and Pacific (ACR) States and the Overseas Countries and Territories 71 List of financing operations outside the Community 75 Loans from the Bank's own resources 75 Financing operations from Community budgetary resources 77 Resources 79 Results for the year 83 Administration 84 Balance sheet and financial statements 88 Balance sheet 88 Special Section 90 Profit and loss account 92 Explanatory notes 93 Statement by the Audit Committee 100 Historical pattern of financing 101 Operations within the Community (1980-1984) 101 Operations in the Mediterranean region (1980-1984) 103 Operations in the African, Caribbean and Pacific States under the Lomé Conventions (1976-1984) 105 Board of Governors Situation at 1 Jun e 1985 Chafrman H. Onno RUDING (Netherlands) untilJune 1984 Nigel LAWSON (United Kingdom) BELGIUM Willy DE CLERCQ, Deputy Prime Minister. Minister of Finance and Foreign Trade until January /5S5 Frans GROOTJANS, Deputy Prime Minister, Minister of Finance and the Middle Classes DENMARK Henning CHRISTOPHERSEN. Deputy Prime Minister. Minister of Finance untilJuiy 1984 Palle SIMONSEN, Minister of Finance GERMANY Gerhard STOLTENBERG. Federal Minister of Finance GREECE Gerassimos ARSENIS. Minister for National Economy FRANCE Jacques DELORS, Minister for Economic, Financial and Budgetary Affairs until July 1984 Pierre BEREGOVOY. Minister for Economic, Financial and Budgetary Affairs IRELAND Alan DUKES, Minister for Finance ITALY Giovanni Giuseppe GORIA. Minister of the Treasury LUXEMBOURG Pierre WERNER, Prime Minister, Minister of State until July 1984 Jacques POOS, Deputy Prime Minister. Minister of the Treasury NETHERLANDS H. Onno RUDING. Minister of Finance UNITED KINGDOM Nigel LAWSON, Chancellor of the Exchequer Audit Committee Situation at 1 June 1985 Chairman Konstantin THANOPOULOS, Manager. Bank of Greece, Athens unta June 1984 Jorgen BREDSDORFF, Fhv. rigsrevisor. Audit Department, Copenhagen Members Jorgen BREDSDORFF Albert HANSEN, Secrétaire Général du Conseil du Gouvernement. Luxembourg Konstantin THANOPOULOS Board of Directors Situation at 1 June 1985 Chairman Ernst-Günther BRÖDER VIce-ChaIrmen C. Richard ROSS Arle PAIS Lucio IZZO Noel WHELAN Alain PRATE Messrs Yves LE PORTZ and Horst-Otto STEFFE served as Chairman and Vice-Chairman until July 1984, when they were appointed Honorary Chairman and Honorary Vice- Chairman respectively Directors Luigi ARGUTI Presidente dell'istituto Mobiliare Italiano, Rome Paul ARLMAN Directeur, plaatsvervangend hoofd van de Directie Buitenlandse Financiële Betrekkingen, Ministry of Finance, the Hague Richard BRANTNER Sprecher des Vorstands der Kreditanstalt für Wiederaufbau, Frankfurt, from September 1984 Karl BREDAHL Fhv. Afdelingschef, Ministry of Finance. Copenhagen Ernst-Günther BRÖDER Sprecher des Vorstands der Kreditanstalt für Wiederaufbau, Frankfurt, untilJuly 1984 Corneille BRÜCK Président-Directeur de la Caisse d'Épargne de l'État, Luxembourg Michel CAMDESSUS Directeur du Trésor, Ministry of Economie, Financial and Budgetary Affairs, Paris, unti! September 1984 David DELL Deputy Secretary, Department of Trade and Industry, London, from August 1984 Paolo GNES Condirettore Centrale.