By letter dated 4 November 2011, the Czech Republic nominated, by common accord with the Republic of Bulgaria, the Republic of Cyprus, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic, Mr Zdenĕk Pagáč (Acting Head of Development Cooperation and International Financial Institutions Unit, Department of International Relations, Ministry of Finance) for appointment as Alternate Member of the Board of Directors of the EIB to succeed Ms Ivana Vlkova who had tendered her resignation.

By letter dated 21 November 2011, the Board of Governors was invited to vote on the proposed appointment.

The decision to appoint Mr Zdenĕk Pagáč was taken on 9 December 2011, the date on which the requisite majority of Governors' votes was reached.

The term of office of Mr Zdenĕk Pagáč will expire in 2013 at the end of the day of the approval by the Board of Governors of the Annual Report, the Balance Sheet and Profit and Loss Account for the 2012 financial year.