Nadia Calviño endorsed by EU ministers as next EIB president

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Nadia Calviño endorsed by EU ministers as next EIB president

BRUSSELS - European Union finance ministers have endorsed Nadia Calviño as the next president of the European Investment Bank (EIB), set to take office on January 1, following the conclusion of Werner Hoyer's term on December 31. Calviño's vision for the EIB includes a strong commitment to funding green transition projects, rebuilding efforts in Ukraine, and bolstering Europe's global influence.

The endorsement, which occurred today, marks a significant step in the leadership transition at one of Europe's key financial institutions. Calviño, who awaits formal appointment confirmation, has outlined an ambitious agenda that aligns with the EU's strategic priorities in sustainability and international cooperation.

Margrethe Vestager, a prominent figure within the European Commission known for her stringent enforcement against major tech companies, has ceased her candidacy for the EIB presidency. Vestager has been instrumental in levying antitrust penalties and conducting tax investigations against giants like Google (NASDAQ: GOOGL ), Apple (NASDAQ: AAPL ), Amazon (NASDAQ: AMZN ), Fiat, Starbucks (NASDAQ: SBUX ), Nike (NYSE: NKE ), and Gazprom (MCX: GAZP ). Her decision to withdraw from the race allows her to refocus on her role in the Commission ahead of the European Commission elections scheduled for June 6-9, 2024.

Danish Minister Morten Bødskov has expressed support for the new leadership process at the EIB. Meanwhile, Vestager continues to play a crucial role in shaping EU policies and ensuring that institutions like the EIB remain strategic and agile in addressing contemporary challenges.

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