Andrew Doyle (Wicklow, Fine Gael)
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262. To ask the Minister for Finance when the next opportunity will arise for Ireland to appoint a new director to the board of the European Bank for Reconstruction and Development; if he will provide details of the current and all previous appointments to the board by the Irish Government; the costs associated with the position in tabular form over the past fifteen years; if he will detail annually the salary that this position commands and Ireland's annual contribution to the bank; and if he will make a statement on the matter. [24232/13]

Michael Noonan (Limerick City, Fine Gael)
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Ireland currently holds a Director position at the European Bank for Reconstruction and Development (EBRD) Board under a Constituency agreement with Denmark which provides for an equal rotation of the posts of Director and Alternate Director between both countries on a three-year cycle. Ireland assumed the Director position on May of 2012 and holds this position until May of 2015 – over that period, Denmark holds the post of Alternate Director. After May of 2015, the positions reverse for a further three years. The current Irish representative on the Board of Directors of the EBRD is Mr Eoin Ryan who was initially appointed to the position of Alternate Director on 12 February 2010 and he took over the Director post in May 2012. His appointment on the Board is due to end on 1 July 2013.

The previous Irish representatives at the EBRD, and the dates on which they served, as per their letters of appointment, are set out in the table below:

The salary of the Irish representative at the Board of Directors is paid directly by the Bank and is not contributed to by the State. Currently, the annual gross salary for Director and Alternate Director posts ranges between £124,903 to £131,574 and £104,939 to £111,074 respectively; depending on the personal circumstances of the incumbent.

There is no annual contribution to the Bank. In terms of any liabilities associated with Bank membership, Ireland's initial subscription amounted to paid in capital of €9 million with callable capital amounting to €30 million. In 1996, the Government agreed to subscribe to 3,000 shares in the First Capital Increase of the Bank, of which, 675 shares were paid in via eight equal instalments amounting to €6.75 million. This brought Ireland's paid in capital up to €15.75 million and callable capital up to €44.25 million. Following a capital increase in 2010 and 2011, Ireland's paid in capital in the Bank increased to €18.78 million (this increase was funded through the bank's own reserves) and callable capital increased to €71.260 million (an increase of just over €27 million). Ireland’s shareholding within the Bank is currently 0.3% following this increase.