Protocol concerning the conditions and arrangements for admission of the Republic of Bulgaria and Romania to the European Union - PART TWO:ADJUSTMENTS TO THE CONSTITUTION - TITLE I:INSTITUTIONAL PROVISIONS - Article 11


Published: 2005-04-25

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12005SP011

Protocol concerning the conditions and arrangements for admission of the Republic of Bulgaria and Romania to the European Union - PART TWO:ADJUSTMENTS TO THE CONSTITUTION - TITLE I:INSTITUTIONAL PROVISIONS - Article 11

Official Journal L 157 , 21/06/2005 P. 0032 - 0033


Article 11

Protocol No 5 on the Statute of the European Investment Bank, annexed to the Constitution, is hereby amended as follows:

1. In Article 4(1), first subparagraph:

(a) the introductory sentence shall be replaced by the following:

"1. The capital of the Bank shall be 164795737000 euro subscribed by the Member States as follows [***]:

(b) the following shall be inserted between the entries for Ireland and Slovakia:

"Romania 846000000"; and

(c) the following shall be inserted between the entries for Slovenia and Lithuania:

"Bulgaria 296000000".

2. In Article 9(2) the first, second and third paragraphs shall be replaced by the following:

"2. The Board of Directors shall consist of twenty-eight directors and eighteen alternate directors.

The directors shall be appointed by the Board of Governors for five years, one nominated by each Member State. One shall also be nominated by the Commission.

The alternate directors shall be appointed by the Board of Governors for five years as shown below:

- two alternates nominated by the Federal Republic of Germany,

- two alternates nominated by the French Republic,

- two alternates nominated by the Italian Republic,

- two alternates nominated by the United Kingdom of Great Britain and Northern Ireland,

- one alternate nominated by common accord between the Kingdom of Spain and the Portuguese Republic,

- one alternate nominated by common accord between the Kingdom of Belgium, the Grand Duchy of Luxembourg and the Kingdom of the Netherlands,

- two alternates nominated by common accord between the Kingdom of Denmark, the Hellenic Republic, Ireland and Romania,

- two alternates nominated by common accord between the Republic of Estonia, the Republic of Latvia, the Republic of Lithuania, the Republic of Austria, the Republic of Finland and the Kingdom of Sweden,

- three alternates nominated by common accord between the Republic of Bulgaria, the Czech Republic, the Republic of Cyprus, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic,

- one alternate nominated by the Commission.".

[***] The figures quoted for Bulgaria and Romania are indicative and based on the 2003 data published by Eurostat."

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