Román Escolano has been appointed by the Board of Governors as Vice-President and member of the Management Committee of the European Investment Bank (EIB). He will take up his duties on 1 September 2014.
Román Escolano was appointed by the EIB’s Board of Governors on a proposal from the Spanish Minister of Economy with the agreement of the Portuguese Republic.
Prior to joining the Bank, Román Escolano was President of the Instituto de Crédito Oficial (ICO) in Spain. Previously, from 2000 to 2004 he was Head of the Economic Department at the Prime Minister’s Office and has also held a number of positions in both Government and the private sector.
Upon joining the EIB Román Escolano said: “I am pleased to be appointed to the European Investment Bank as a member of the Management Committee. I very much appreciate to work for the EIB, which is a very important institution in the current European context, especially in helping to create jobs and growth in the European Union.”
The Management Committee is the EIB’s permanent collegiate executive body, consisting of a President and eight Vice-Presidents. The members of the Management Committee are appointed by the Board of Governors – the Finance Ministers of the 28 EU Member States – for up to six years.
Under the authority of Werner Hoyer, President of the EIB, the Management Committee collectively oversees the day-to-day running of the EIB as well as preparing and ensuring the implementation of the Board of Directors' decisions, notably regarding borrowing and lending operations.
The European Investment Bankis the long-term lending institution of the European Union and its shareholders are the EU Member States. Its remit is to make long-term finance available for viable projects in order to contribute towards EU policy objectives.