A former Austrian Federal Chancellor, Karl Nehammer of the ÖVP, is expected to be nominated for a directorial position at the European Investment Bank (EIB). The nomination, which comes as a surprise, was confirmed by the Ministry of Finance, which is led by Minister Markus Marterbauer of the SPÖ.
The selection of high-ranking officials at the EIB follows a rotating system among the EU member states. Austria is now due to nominate a candidate. In the past, the former ÖVP Finance Minister Wilhelm Molterer held a leading role at the EIB, serving as the bank’s vice-president from 2011 to 2015. Karl Nehammer could now follow in his party colleague’s footsteps.
The European Investment Bank plays a central role in financing projects that are designed to strengthen the European economy and infrastructure. The bank’s focus lies on climate protection, sustainable development, digitalization, security, defense, agriculture and social infrastructure. It works closely with other EU institutions and supports innovative and sustainable projects through loans.