On Tuesday 15 January, Parliament approved by a very large majority the withdrawal of the United Kingdom from the capital of the European Investment Bank (EIB) once Brexit becomes effective.
Only consulted on this legislative proposal emanating directly from the EIB, MEPs agree that the UK share of the Bank’s capital, which since 1 July 2013 has amounted to EUR 39.2 billion, including EUR 3.5 billion of capital actually paid in, should be removed. After Brexit, the EIB will be endowed with a capital of EUR 204.09 billion by subtraction.
However, consideration is being given at a European level on how to best keep the EIB’s capital unchanged (see EUROPE 12092). Among the options circulating are the possibility for the EU Bank to draw on its own reserves and the increase in the subscribed capital of some Member States. Poland is particularly in favour of this.
MEPs also approved the strengthening of the prerogatives of the Board of Directors and the modification of the distribution of deputy directors sitting on the Board. (Original version in French by Mathieu Bion)