Oireachtas Joint and Select Committees

Thursday, 29 June 2017

Committee on Budgetary Oversight

Capital Investment: European Investment Bank

10:00 am

Mr. Andrew McDowell:

The board would decide on a change of our eligibility criteria. It would have to be on the basis of a proposition from the management committee of the bank to the board. It is clear that if the board is demanding a change in the eligibility criteria to accommodate the requirements of the European Council, the management committee will be expected to make a proposition. This will be something that evolves. I expect it to be finalised one way or another before the end of the year. Last week, the European Council reiterated, or recalled, its request to the EIB from last December to come forward with a set of proposals on how to provide more investment into research and development in the defence sector. This is something to which the bank must respond in the near future.

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