Council Decision (EU) 2019/1255 of 18 July 2019

What it is

European Investment Bank’s (EIB) request to the Council to amend the EIB's Statute based on the special legislative procedure laid down in Article 308 TFEU concerning the EIB capital increase subscribed by Poland and Romania. ROLE OF THE EUROPEAN PARLIAMENT: the Council adopts the act after consulting the European Parliament but without being obliged to follow its opinion. BACKGROUND: under Article 308 TFEU, the European Investment Bank (EIB) may request the Council, in accordance with a special legislative procedure, to amend the Statute. Following its meeting of 17 July 2018, the Board of Directors proposed to the Board of Governors an increase in the subscribed capital of the remaining Member States to maintain the total subscribed capital of the EIB following the withdrawal of the United Kingdom from the Union. The Committee on Constitutional Affairs adopted, following a special legislative procedure (consultation of Parliament), the report by Danuta Maria HÜBNER (EPP, PL) on the draft Council decision amending the Statute of the European Investment Bank. The committee recommended that Parliament approve the Council's draft without amendments. The aim of the targeted amendments proposed by the EIB is to adapt the Statute of the Bank to reflect an increase in the EIB’s subscribed capital by Poland and Romania. The capital subscribed by Poland shall be increased by EUR 5 386 000 000 and that the capital subscribed by Romania should be increased by EUR 125 452 381. The subscribed capital of the Bank shall be increased to EUR 248 795 606 881. The European Parliament adopted by 555 votes to 26 with 29 abstentions, following a special legislative procedure (consultation of the Parliament), a legislative resolution on the draft Council decision amending the Statute of the European Investment Bank. PURPOSE: to amend the Statute of the European Investment Bank (EIB) with regard to the EIB capital increase subscribed by Poland and Romania. LEGISLATIVE ACT: Council Decision (EU) 2019/1255 amending Protocol 5 on the Statute of the European Investment Bank CONTENT: pursuant to this Decision amending Protocol No 5 on the Statute of the European Investment Bank: - Poland's subscribed capital is increased by EUR 5 386 000 000 000 in accordance with its request; - Romania's subscribed capital is increased by EUR 125 452 381 in accordance with its request. The Bank now has a capital of EUR 248 795 606 881 subscribed by the Member States for (i) EUR 11 366 679 827 for Poland and (ii) EUR 1 639 379 073 for Romania. In the context of those increases, the provisions on nomination of alternate members of the Board of Directors of the Bank by groups of Member States acting by common accord should also be amended. APPLICATION: one month after the date on which Council Decision (EU) 2019/654 applies.

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