Former Finance Minister to become EIB Vice-President

Former Czech finance and education minister Ivan Pilip, has confirmed that he is to become one of the seven vice- presidents of the European Investment Bank (EIB) on May 1. According to EIB vice-president Wolfgang Roth, Mr Pilip will be in charge of the Czech Republic, Slovakia and Poland, which along with seven more countries become EIB shareholders as of May 1, when they join the European Union. Mr Roth, who has up-to-date been in charge of the Czech Republic, Slovakia and Poland at the EIB, will cover other Central European countries such as Austria. The EIB is one of the biggest players on global financial markets. It is controlled by EU member countries, which means it can borrow cheaply and grant cheap loans, mostly to countries and regions.