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0000950123-09-039030.txt : 200908280000950123-09-039030.hdr.sgml : 2009082820090828060613ACCESSION NUMBER:0000950123-09-039030CONFORMED SUBMISSION TYPE:18-K/APUBLIC DOCUMENT COUNT:19CONFORMED PERIOD OF REPORT:20081231FILED AS OF DATE:20090828DATE AS OF CHANGE:20090828

FILER:

COMPANY DATA:COMPANY CONFORMED NAME:EUROPEAN INVESTMENT BANKCENTRAL INDEX KEY:0000033745STANDARD INDUSTRIAL CLASSIFICATION:FOREIGN GOVERNMENTS [8888]IRS NUMBER:000000000FISCAL YEAR END:1231

FILING VALUES:FORM TYPE:18-K/ASEC ACT:1934 ActSEC FILE NUMBER:001-05001FILM NUMBER:091041054

BUSINESS ADDRESS:STREET 1:100 BD KONRAD ADENAUERCITY:LUXEMBURGSTATE:N4ZIP:L 2900

MAIL ADDRESS:STREET 1:100 BLVD KONRAD ADENAWERSTREET 2:L 2950 LUXEMBOURG GRAND DUCHYCITY:LUXEMBOURG

18-K/A1u07437e18vkza.htmAMENDMENT TO FORM 18-K

e18vkza

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 18-K/A

For Foreign Governments and Political Subdivisions Thereof

AMENDMENT NO. 1
to
ANNUAL REPORT
of

EUROPEAN INVESTMENT BANK

(Name of registrant)

Date of end of last fiscal year: December31, 2008

TABLE OF CONTENTS

SIGNATUREEXHIBIT INDEXEX-99.V: CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANTSEX-99.VI: UNAUDITED CONSOLIDATED AND UNCONSOLIDATED SUMMARY BALANCE SHEETEX-99.VII: INCREASE IN REGISTRANT'S BORROWING PROGRAMME FOR 2009

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SECURITIES REGISTERED
(as of December31, 2008)

Amount as to Which

Registration is Names of Exchanges on

Title of Issue Effective Which Registered

4.875% Notes due January17, 2017 $ 3,000,000,000 NYSE

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Name and address of person authorized to receive notices and communications from theSecurities and Exchange Commission:

Philip J. Boeckman, Esq.
Cravath, Swaine & Moore LLP
CityPoint
One Ropemaker Street
London EC2Y 9HR
United Kingdom

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The undersigned registrant hereby amends its Annual Report on Form 18-K for the fiscal yearended December31, 2008 (the Annual Report) as follows:

The following additional exhibits are added to the Annual Report:

ExhibitV:

Change in registrants certifying accountants.

ExhibitVI:

Unaudited Consolidated and Unconsolidated Summary BalanceSheet as at 30 June2009, Profit and Loss Account for theperiod ended 30 June2009 and Cash Flow Statement as at 30June2009.

ExhibitVII:

Increase in registrants borrowing programme for 2009.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant hasduly caused this amendment to the annual report to be signed on its behalf by theundersigned, thereunto duly authorized at Luxembourg, Grand Duchy of Luxembourg, on the28th day of August, 2009.

EUROPEAN INVESTMENT BANK
(Name of registrant)

by /s/ Eila Kreivi

Eila Kreivi

Head of Division Capital Markets

by /s/ Sandeep Dhawan

Sandeep Dhawan

Managerial Adviser
Deputy Head of Funding

by /s/ John Bruton

John Bruton

Head of Delegation of the
European Commission to the United States

5

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EXHIBIT INDEX

Exhibit Document

V

Change in registrants certifying accountants.

VI

Unaudited Consolidated and Unconsolidated Summary Balance Sheet asat 30 June2009, Profit and Loss Account for the period ended 30June2009 and Cash Flow Statement as at 30 June2009.

VII

Increase in registrants borrowing programme for 2009.

6

EX-99.V2u07437exv99wv.htmEX-99.V: CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANTS

exv99wv

EXHIBIT V

Change in registrants certifying accountants

The Audit Committee of the European Investment Bank with the consent of the Management Committeedesignated KPMG Audit S..r.l., independent registered public accounting firm, as external auditorsfor the fiscal year ending December31, 2009. The selection is the result of a competitive process.

EX-99.VI3u07437exv99wvi.htmEX-99.VI: UNAUDITED CONSOLIDATED AND UNCONSOLIDATED SUMMARY BALANCE SHEET

exv99wvi

EXHIBITVI

ExhibitVI CONSOLIDATED BALANCE SHEET AS AT 30 JUNE 2009 (in EUR 000) 30.06.2009 30.06.2009 ASSETS31.12.2008 LIABILITIES 31.12.2008 (Unaudited) (Unaudited) 1. Cash in hand, balances with centralbanks and 1. Amounts owed to credit institutions post office banks ......... 82 76 a) with agreedmaturity dates or periods of notice ........ 5 262 184 5 959 353 5 262 184 5 959 353 2. Treasurybills eligible for refinancing with 2. Debts evidenced by certificates central banks............... 5 120 885 2 016 818 a) debt securities in issue ........... 317 388 257 283 832176 b) others ............... 1 182 456 668 769 3. Loans and advances to credit institutions 318570 713 284 500 945 a) repayable on demand ..... 300 488 275 915 3. Other liabilities b) otherloans and advances 31 247 887 21 745 356 a) sundry creditors ........... 1 861 885 1 805 887 c)loans . 114 731 646 116 216 197 b) sundry liabilities ........... 40 678 43 123 146 280 021 138 237468 c) negative replacement values ......... 14 333 664 17 473 719 4. Loans and advances tocustomers 16 236 227 19 322 729 a) loans... 189 955 520 175 668 894 b) specific provisions ... 77500 17 500 4. Accruals and deferred income......... 240 594 267 231 189 878 020 175 651 394 5.Debt securities including fixed-income 5. Provisions securities a) pension plans and healthinsurance scheme 1 240 535 1 122 800 a) issued by public bodies .. 778 897 583 455 b) issued byother borrowers ... 15 229 453 10 646 207 1 240 535 1 122 800 16 008 350 11 229 662 TOTALLIABILITIES 341 550 253 311 173 058 6. Shares and other variable-yield securities ... 1 975 419 1983 238 6. Capital Subscribed ... 232 392 989 164 808 169 7. Intangible assets .... 3 941 4 316 -Uncalled ...... 220 773 340 156 567 760 11 619 649 8 240 409 8. Property, furniture andequipment .... 311 402 316 184 7. Consolidated reserves a) reserve fund ..... 18 205 506 16 480 8179. Other assets b) additional reserves .... 4 601 261 5 196 255 a) sundry debtors. 96 037 159 95522 806 767 21 677 072 b) positive replacement values... 19 879 470 21 861 679 19 975 507 22 021 6348. Funds allocated to structured finance facility ............ 4 750 000 2 750 000 10. Non-currentassets held 3 373 3 373 9. Funds allocated to venture capital operations ....... 1 617 127 1 764305 11. Subscribed capital and receivable reserves, called but not paid 161 145 458 925 10. Profitfor the period 2 572 841 6 355 715 12. Prepayments and accrued income... 52 810 37 471 TOTALEQUITY 38 220 702 40 787 501 TOTAL ASSETS 379 770 955 351 960 559 TOTAL LIABILITIES & EQUITY 379770 955 351 960 559 EIB Group Interim Financial Statements 1

CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 30 JUNE 2009 (in EUR 000)30.06.2009 30.06.2008 31.12.2008 (Unaudited) (Unaudited) 1. Interest and similar income 5 282 381 7249 293 14 812 995 2. Interest expense and similar charges 4 292 560 6 215 062 12 672 229 3.Income from shares and other variable-yield securities 6 140 12 171 56 084 4. Fee and commissionincome 37 877 37 780 96 072 5. Fee and commission expense 74 83 125 6. Result on financialoperations 3 290 060 699 211 4 644 604 7. Other operating income 22 940 15 328 38 533 8. Generaladministrative expenses 206 750 171 306 397 138 a) staff costs 162 507 135 479 289 475b) other administrative costs 44 243 35 827 107 663 9. Depreciation and amortisation 12 699- - 10 873 28 319 a) intangible assets 1 013 604 1 854 b) tangible assets 11 686 10 269 -26 465 10. Credit loss expense 84 082 3 139 2 659 11. Reversal of impairment losses / (Impairmentlosses) on shares 35 954 53 861 197 421 and other variable-yield securities 12. Profit forthe period / year 2 572 841 1 565 737 6 355 715 EIB Group Interim Financial Statements 2

Statement of movements in consolidated own funds (in EUR 000) Funds allocated Funds allocatedAdditional Reserves Profit for the Total Callable to venture Reserve Subscribed capital toStructured period before consolidated capital capital fund For the half year ended 30 June2009Finance Facility Other AFS reserve appropriation own funds operations At 31 December2007 164 808169 -156 567 760 1 250 000 1 690 940 16 480 817 5 418 801 648 377 843 206 34 572 550 Appropriationof prior years profit 0 0 1 500 000 0 0 656 794 0 843 206 0 Transfer from additional reserves0 0 0 73 365 0 73 365 0 0 0 Changes in fair value during the half year 0 0 0 0 0 0 140 764 0 -140 764 Net profit of the year 0 0 0 0 0 0 0 6 355 715 6 355 715 At 31 December2008 164 808 169- -156 567 760 2 750 000 1 764 305 16 480 817 4 688 642 507 613 6 355 715 40 787 501 Increase insubscribed capital on 1 April2009 67 584 820 -64 205 580 2 000 000 0 0 -5 379 240 0 0 0Appropriation of prior years profit 0 0 0 0 1 724 689 4 631 026 0 -6 355 715 0 Transfer fromadditional reserves (*) 0 0 0 147 178 0 147 178 0 0 0 Changes in fair value during the half year0 0 0 0 0 0 6 042 0 6 042 Net profit/loss for the half year 0 0 0 0 0 0 0 2 572 841 2 572 841At 30 June2009 232 392 989 -220 773 340 4 750 000 1 617 127 18 205 506 4 087 606 513 655 -2 572841 38 220 702 (*) An amount of EUR000 147 178 resulting from the value adjustments on venturecapital operations has been transferred from the Funds allocated to venture capital operations tothe Additional Reserves EIB Group Interim Financial Statements 3

CONSOLIDATED CASH FLOW STATEMENT AS AT 30 JUNE 2009 (in EUR 000) 30.06.2009 30.06.2008 (Unaudited)(Unaudited) A. Cash flows from operating activities : Profit for the half year 2 572 841 1 565737 Adjustments : Unwinding of the discount relating to capital and reserve called 2 608 16 863Transfer to provision for guarantees issued 0 0 Depreciation and amortization on tangible andintangible assets 12 699 10 873 Value adjustment on venture capital operations 53 770 53 861Decrease in accrued interest and commissions payable and interest received in advance 26 637 12873 Increase/Decrease in prepayments and accrued income 11 110 14 283 Investment portfolioamortisation 5 108 3 423 Changes in replacement values on derivatives other than those associatedwith borrowings and loans 1 153 979 1 703 382 Profit on operating activities : 1 387 640 91787 Net Loans disbursements 23 017 433 17 652 542 Repayments 10 905 596 10 251 638 Effects ofexchange rate changes on loans 3 352 005 4 680 934 Decrease/Increase in prepayments and accruedincome on loans 245 641 34 903 Adjustments of loans (fair value option) 2 416 125 773 191 Changesin replacement values on derivatives associated with loans 291 657 702 893 Decrease/Increase inoperational portfolio 76 811 87 035 Increase in venture capital operations 113 559 35 716Impairement losses on loans and advances 60 000 19 550 Increase in shares and other variableyield securities 24 149 8 711 Decrease in other assets 63 920 24 988 Increase in otherliabilities 168 939 161 509 Net cash from operating activities 14 249 411 2 740 877 B. Cashflows from investing activities : Securities matured during the period 139 799 172 483 Increase insecuritised loans 738 237 377 028 Purchases of property, furniture and equipment 6 904 32196 Purchase of intangible fixed assets 638 873 Net cash from investing activities 605 980 -237 614 C. Cash flows from financing activities : Issue of borrowings 62 633 939 40 291 873Redemption of borrowings 21 001 041 19 614 876 Effects of exchange rate changes on borrowingsand swaps 3 499 409 5 243 671 Adjustments of borrowings (fair value option) 2 342 519 5 579786 Changes in replacement values on derivatives associated with borrowings 1 179 183 6 323 483Increase in accrual and deferred income on borrowings and swaps 76 412 112 337 Paid In by MemberStates 302 996 329 827 Decrease in commercial paper 11 995 784 4 941 569 Decrease/Increase inamounts owed to credit institutions 697 169 77 408 Net cash from financing activities 31 655 42611 755 026 Summary statement of cash flows Cash and cash equivalents at 1st January24 129 570 18322 348 Net cash from : (1)operating activities 14 249 411 2 740 877 (2)investing activities- - 605 980 237 614 (3)financing activities 31 655 426 11 755 026 Effects of exchange rate changeson cash and cash equivalents Cash and cash equivalents at 30th June40 929 605 27 098 883 Cashanalysis Cash in hand, balances with central banks and post office banks 82 512 Bills maturingwithin three months of issue 9 381 148 4 590 822 Loans and advances to credit institutions :Accounts repayable on demand 300 488 318 617 Term deposits accounts 31 247 887 22 188 932 40 929605 27 098 883 EIB Group Interim Financial Statements 4

European Investment Bank AppendixI June30, 2009 NOTES TO THE UNAUDITED CONDENSEDCONSOLIDATED INTERIM FINANCIAL STATEMENTS NOTE A Basis of Presentation The accompanyingunaudited condensed consolidated financial statements of the European Investment Bank (the Bank)as at June30, 2009 do not include all of the information and footnotes required for completefinancial statements. The financial statements as at and for the periods ended June30, 2009 andDecember31, 2008 are prepared on a consolidated basis. In the opinion of management, alladjustments, normal recurring accruals and adjustments for the impairment of venture capitaloperations and loans considered necessary for a fair presentation have been recorded. The profitfor the six-month period ended June30, 2009 is not necessarily indicative of the results that maybe expected for the year ended December31, 2009. The unaudited condensed consolidated financialstatements as at and for the periods ended June30, 2009 and the financial statements as at and forthe year ended December31, 2008 were prepared in accordance with International Financial ReportingStandards (IFRS)as endorsed by the EU. For further information, refer to the financial statementsand footnotes thereto included in the Banks annual report for the year ended December31, 2008.NOTE B Summary Statement of Loans (in Eur 000) Loans granted ___Analysis of aggregate to intermediary directly to Total loans granted credit final (beforespecific provisions) institutions beneficiaries ___ Disbursed portion114,731,646 189,955,520 304,687,166 Undisbursed portion 15,820,551 50,506,589 66,327,140___Aggregate loans granted 130,552,197 240.462.109 371,014,306NOTE C Debts evidenced by certificates [See following page for summary statement of debtsevidenced by certificates.] EIB Group Interim Financial Statements 5

European Investment Bank AppendixI June30, 2009 NOTE D EIF capital increase and commitmentto purchase the remaining EIF shares at a fixed price EIF capital increase As at June30, 2009,the subscribed capital of the EIF has increased from EUR 2.865billion to EUR 2.940billion. Thepercentage holding of the Bank in the EIF has decreased from 63,60% at the end of December2008 to61,97% at the end of June2009. At the EIF Annual General Meeting of Shareholders held on the May7, 2007, it was decided to issue 1000 new shares, identical to the 2000 existing ones (nominalvalue EUR 1million each, paid in ratio of 20%) between the June30, 2007 and June30, 2010. Out ofthe 1000 new shares, 940 were subscribed as at the June30, 2009. The Bank has decided to subscribe609 new shares on the June30, 2007. By the June30, 2010, all shares not subscribed by the othershareholders will be subscribed by the Bank. Commitment to purchase the remaining EIF shares at afixed price Under the terms of the Replacement Share Purchase Undertaking, the EIB is offering tobuy the remaining subscribed shares from the EIFs other shareholders on the June30, 2009 for aprice of EUR 349,049.95 per share. The latter corresponds to the part of each share in the calledcapital of EIF, increased by the share premium account, the statutory reserves, the disclosedunrealised gains in venture capital operations, the profit brought forward and the profit of theyear. Given that the dividend for the year will still be due to the other shareholders, thedividend decided will be deducted from the, thus obtained, price. The agreed formula is beingapplied to the approved and audited annual accounts of the EIF for the financial year in which theoption is exercised. NOTE E Commitments, Contingent Liabilities and other memorandum items[See following pages for summary statement of commitments and contingent liabilities.] EIB Group Interim Financial Statements 6

NOTE C SUMMARY STATEMENT OF DEBTS EVIDENCED BY CERTIFICATES AS AT 30 JUNE 2009 (IN EUR 000)BORROWINGS CURRENCY SWAPS NET AMOUNT RECEIVABLE PAYABLE OUTSTANDING AVERAGE OUTSTANDING AVERAGE DUEOUTSTANDING OUTSTANDING IN AT 31.12.2008 RATE AT 30.06.2009 RATE DATES 31.12.2008 30.06.2009 AT31.12.2008 AT 30.06.2009 EUR 107 758 784 4.02 134 814 103 3.91 2009/2057 1 692 262 1 658 004106 066 522 133 156 099 GBP 47 705 235 5.11 57 824 501 4.91 2009/2054 15 100 101 21 018 548 32605 134 36 805 953 DKK 536 869 2.86 604 270 2.77 2010/2026 536 869 604 270 SEK 1 985 281 4.18 1 621272 4.12 2011/2028 552 571 555 510 1 432 710 1 065 762 CZK 928 119 5.03 598 912 3.87 2010/2030928 119 598 912 HUF 731 159 7.20 406 923 6.94 2010/2015 328 084 128 890 403 075 278 033 PLN 465206 6.29 309 240 6.34 2010/2026 93 313 64 594 371 893 244 646 BGN 309 336 6.60 324 675 5.832009/2013 309 336 324 675 SKK 144 175 4.75 0.00 0 144 175 RON 74 580 7.00 106 9598.88 2014/2016 74 580 106 959 USD 77 423 397 3.72 73 314 058 3.58 2009/2058 41 397 725- - 46 707 482 36 025 672 26 606 576 CHF 4 468 687 2.47 5 352 113 2.40 2009/2036 2 545 455 3 426138 1 923 232 1 925 975 JPY 10 331 351 0.97 10 461 933 0.88 2011/2047 10 022 170 9 817 700 309181 644 233 NOK 1 315 897 4.08 1 807 163 3.81 2010/2025 733 333 1 230 872 582 564 576 291 CAD770 751 4.70 797 797 4.72 2037/2045 775 163 811 929 4 412 14 132 AUD 4 971 016 5.83 6 741457 5.75 2009/2021 4 927 858 6 741 457 43 158 HKD 77 883 6.97 259 269 2.70 2009/2019 77883 259 269 NZD 2 806 416 6.88 3 160 787 6.90 2009/2017 2 788 227 3 160 787 18 189 ZAR1 160 062 8.91 1 339 714 8.60 2009/2018 791 164 935 013 368 898 404 701 MXN 79 425 8.57 82 3358.57 2009/2015 79 425 82 335 TWD 176 856 1.66 65 175 3.47 2010/2013 176 856 65 175TRY 2 518 980 14.04 2 001 043 12.91 2009/2022 2 484 077 1 994 687 34 903 6 356 ISK 113 7939.47 95 270 8.74 2010/2011 113 793 95 270 RUB 135 770 7.39 135 822 8.14 2011/2019 135770 135 822 Fair Value Option Adjustment (IAS 39) 17 511 917 16 345 922 TOTAL 284 500945 318 570 713 The redemption of certain borrowings is indexed to stock exchange indexes(historical value: EUR 843million as at 30.06.09). All such borrowings are hedged in full throughswap operations. EIB Group Interim Financial Statements 7

NOTE E Commitments, Contingent Liabilities and other memorandum items (in EUR 000) 30.06.200931.12.2008 (Unaudited) Commitments EBRD capital . uncalled 442 500 442 500 Undisbursed loans. credit institutions (Note B) 15 820 551 12 457 853 . customers (Note B) 50 506 589 46 411 674 66327 140 58 869 527 Undisbursed venture capital operations 1 262 340 1 227 139 Undisbursedinfrastructure funds 197 014 241 627 Undisbursed investment funds 144 002 93 094 Guarantees: Inrespect of loans granted by third parties 3 357 824 4 067 932 In respect of venture capitaloperations 15 570 15 171 Fiduciary operations 9 851 427 9 033 466 Assets held on behalf of thirdparties CIP/SMEG 2007 95 428 95 483 CIP/GIF 2007 61 385 69 342 SME Guarantee Facility 71 38769 877 European Technology Facility 14 272 13 585 Map Equity 66 747 77 816 Guarantee Fundtreasury management 1 206 161 1 091 447 Investment Facility Cotonou 1 135 443 1 144 922 MapGuarantee 53 573 73 580 Seed Capital Action 25 131 Special Section1 590 995 1 593 398 RSFF368 668 205 760 EU-Africa 96 297 91 881 HIPC 70 522 90 569 FEMIP 32 673 33 159 LGTT 104 38243 760 FP7 Guarantee Fund 408 034 283 132 Jasper 5 129 1 114 Jessica 2 153 0 TTP 2 009 2000 Jeremie 475 896 283 101 GEEREF 46 115 45 929 BWMi 718 130 5 908 012 5 310 116 Specialdeposits for service of borrowings 257 587 134 772 Securities Portfolio 0 157 480 Interest-rateswap and deferred rate-setting contracts 316 203 446 276 181 870 Currency swap contracts payable121 880 230 115 600 764 Currency swap contracts receivable 116 234 352 106 514 766 Credit defaultswaps 189 860 172 383 Put option granted to EIF minority shareholders (Note D) 390 238 363 433Borrowings arranged but not yet signed 274 722 0 Swaps arranged but not yet signed 40 0 Securitieslent 329 648 367 704 Future contracts 215 800 393 663 Forward rate agreement 1 110 096 5 472 000 FXForwards 0 234 469 Overnight indexed swaps 0 0 EIB Group Interim Financial Statements 8

EIB BALANCE SHEET AS AT 30 JUNE 2009 (in EUR 000) 30.06.2009 30.06.2009 ASSETS 31.12.2008LIABILITIES 31.12.2008 (Unaudited) (Unaudited) 1. Cash in hand, balances with central banks and 1.Amounts owed to credit institutions post office banks ......... 82 76 a) with agreed maturitydates or periods of notice ....... 5 262 006 5 958 407 5 262 006 5 958 407 2. Treasury billseligible for refinancing with central banks ............... 5 032 507 1 908 756 2. Debts evidencedby certificates a) debt securities in issue ......... 301 042 335 266 320 259 3. Loans andadvances to credit institutions b) others ............. 1 182 456 668 769 a) repayable on demand..... 267 130 245 372 302 224 791 266 989 028 b) other loans and advances 31 098 388 21 361 419 3.Other liabilities c) loans 113 738 183 111 990 666 a) sundry creditors......... 1 463 591 1 449061 145 103 701 133 597 457 b) sundry liabilities .......... 14 909 18 352 4. Loans and advances tocustomers c) foreign exchange neutralization on currency swap contracts 5 647 406 9 055 318 a)loans ... 187 378 503 173 662 179 7 125 906 10 522 731 b) specific provisions .. 82 000 22 000187 296 503 173 640 179 4. Accruals and deferred income ..... 4 193 797 4 905 091 5. Debtsecurities including fixed-income securities 5. Provisions for liabilities and charges a) issued bypublic bodies .. 659 075 454 413 a) pension plans and health insurance scheme ... 1 250 098 1 187653 b) provision for guarantees issued in respect of venture capital b) issued by other borrowers... 14 556 182 10 278 428 operations......... 5 781 5 781 15 215 257 10 732 841 1 255 879 1 193 4346. Shares and other variable-yield securities 1 428 644 1 366 456 7. Participating Interests ....479 272 479 272 6. Capital Subscribed ...... 232 392 989 164 808 169 8. Intangible assets .....3 941 4 316 Uncalled ......... 220 773 340 156 567 761 11 619 649 8 240 408 9. Property,furniture and equipment 308 729 313 881 7. Reserves a) reserve fund .. 18 205 506 16 480 817 10.Other assets b) additional reserves ..... 0 5 305 876 18 205 506 21 786 693 a) sundry debtors . 85460 148 584 85 460 148 584 8. Funds allocated to structured finance facility and similarundertakings 4 750 000 2 750 000 11. Subscribed capital and receivable reserves, called but not 144159 473 986 paid 9. Funds allocated to venture capital operations ...... 1 617 127 1 764 305 12.Prepayments and accrued incomezx ...... 2 070 989 3 095 170 10. Profit for the financial year...... 914 583 1 650 877 357 169 244 325 760 974 357 169 244 325 760 974 30.06.2009 30.06.2009OFF-BALANCE-SHEET ITEMS (Unaudited) 31.12.2008 OFF-BALANCE-SHEET ITEMS (Unaudited) 31.12.2008 -EBRD capital Special deposits for service of borrowings .. 257 587 134 772 uncalled .. 442500 442 500 Securities receivable 0 157 480 EIF capital uncalled ...... 1 457 600 1 457600 Nominal value of interest rate swap Undisbursed loans contracts 316 203 446 276 181 870 credit institutions .. ..... 15 820 551 12 457 853 customers...... 50 506 589 46 411 674Nominal value of currency swap contracts payable .. 121 880 230 115 600 764 66 327 140 58 869 527Nominal value of currency swap contracts receivable ....... 116 234 352 106 514 766 Undisbursedventure capital operations ...... 1 120 283 1 088 046 Undisbursed infrastructure funds .........197 014 241 627 Nominal value of credit default swaps.. 189 860 172 383 Undisbursed investmentfunds 144 002 93 094 Nominal value of put option granted to EIF minority Guaranteesshareholders... 390 238 363 433 In respect of loans granted by third parties ... 75 225 246 621 -In respect of venture capital operations . 15 570 15 171 Borrowings arranged but not yet signed 274722 0 EIF treasury management 835 063 851 595 Swaps arranged but not yet signed 40 0 GuaranteeFund treasury management .... 1 206 161 1 091 447 Securities lending 318 318 306 934 FP7 GuaranteeFund treasury management 408 034 283 132 Futures contracts . 215 800 393 663 Forward rate agreement1 110 096 5 472 000 FX forward .... 291 103 234 469 EIB Group Interim Financial Statements 9

PROFIT AND LOSS ACCOUNT FORTHE PERIOD ENDED 30TH JUNE 2009 (in EUR 000) 30.06.2009 30.06.2008 31.12.2008(Unaudited) (Unaudited) 1. Interest and similar income 5 378 436 7 343 999 15 123 072 2. Interestand similar charges 4 257 861 6 327 171 13 035 794 3. Income from securities withvariable-yield 14 669 24 303 64 274 a) income from participating interests 9 733 12 788 13 074 b)income from shares and variable-yield securities 4 936 11 515 51 200 4. Commission income 31 355 30401 77 700 5. Commission expense 5 047 5 111 8 474 6. Result on financial operations 25 70718 300 56 547 7. Other operating income 23 390 16 014 39 787 8. General administrative expense -172 493 153 033 362 929 a) staff costs 130 166 119 689 261 127 b) other administrativecosts 42 327 33 344 101 802 9. Depreciation and amortization 12 461 10 494 27 602 a)intangible assets 1 013 604 1 854 b) tangible assets 11 448 9 890 25 748 10. Result onsale of loans and advances 0 15 862 15 467 11. Value adjustments on loans and advances 60 00018 736 18 219 12. Value adjustments on shares and other variable-yield securities and -52 597 35 660 165 269 participative interests 13. Release from provision for guarantees issued1 485 265 93 14. Profit for the period / year 914 583 904 687 1 650 877 EIB Group InterimFinancial Statements 10

CASH FLOW STATEMENT AS AT 30 JUNE 2009 (in EUR 000) 30.06.2009 30.06.2008 (Unaudited) (Unaudited)A. Cash flows from operating activities : Profit for the half year 914 583 904 687 Adjustments :Value adjustments on tangible and intangible assets 12 461 10 494 Value adjustment on shares andother variable yield securities and participating interest 52 597 35 660 Decrease in accruals anddeferred income 711 294 443 974 Decrease in prepayments and accrued income 1 024 181 519 320Investment portfolio amortisation 4 037 2 904 Profit on operating activities : 1 296 565 1 023283 Net loan disbursements 23 017 432 17 652 542 Repayments 10 905 596 10 251 638 Effects ofexchange rate changes on loans 3 352 004 4 680 934 Decrease/Increase in treasury portfolios 310341 81 548 Increase in venture capital operations 90 636 27 277 Specific provisions on loansand advances 60 000 19 550 Increase in shares and other variable yield securities 24 149 8711 Decrease in other assets 63 124 19 090 Net cash from operating activities 13 848 595 1 814683 B. Cash flows from investing activities : Sales of EIF shares 0 0 Securities matured during theperiod 115 621 145 166 Purchases of securities 0 0 Increase in securitised loans 752 269 364472 Increase in land, buildings and furniture 6 296 31 477 Increase in intangible fixed assets- - 638 873 Net cash from investing activities 643 582 251 656 C. Cash flows from financingactivities : Issue of borrowings 62 633 939 40 291 873 Redemption of borrowings 21 001 041 19614 876 Effects of exchange rate changes on borrowings and swaps 2 190 737 5 507 573 Paid in byMember States 329 827 329 827 Decrease in commercial paper 11 995 784 4 941 569Decrease/Increase in amounts owed to credit institutions 696 401 77 202 Increase in otherliabilities 73 533 134 773 Net cash from financing activities 31 534 810 10 769 657 Summarystatement of cash flows Cash and cash equivalents at 1st January23 718 439 17 965 695 Net cashfrom : (1)operating activities 13 848 595 1 814 683 (2)investing activities 643 582 251656 (3)financing activities 31 534 810 10 769 657 Effects of exchange rate changes on cash andcash equivalents Cash and cash equivalents at 30th June40 761 070 26 669 013 Cash analysis(excluding investment and hedging portfolios) Cash in hand, balances with central banks and postoffice banks 82 512 Bills maturing within three months of issue 9 395 470 4 620 290 Loans andadvances to credit institutions : Accounts repayable on demand 267 130 246 538 Term depositsaccounts 31 098 388 21 801 673 40 761 070 26 669 013 EIB Group Interim Financial Statements 11

European Investment Bank AppendixI June30, 2009 NOTES TO THE UNAUDITED CONDENSED INTERIMFINANCIAL STATEMENTS NOTE A Basis of Presentation The accompanying unaudited condensedfinancial statements of the European Investment Bank (the Bank) as at June30, 2009 do notinclude all of the information and footnotes required for complete financial statements. Thesefinancial statements are prepared on an unconsolidated basis. In the opinion of management, alladjustments, normal recurring accruals and adjustments for the impairment of venture capitaloperations and loans considered necessary for a fair presentation have been recorded. The profitfor the six-month period ended June30, 2009 is not necessarily indicative of the results that maybe expected for the year ended December31, 2009. These unaudited condensed financial statementsas at and for the periods ended June30, 2009 and the financial statements as at and for the yearended December31, 2008 were prepared in accordance with the general principles of the Directive ofthe Council of the European Communities of 8 December1986 (as amended by the Directive of May31,2001) without making use of the option available to apply fair value accounting. For furtherinformation, refer to the unconsolidated financial statements and footnotes thereto included in theBanks annual report for the year ended December31, 2008. NOTE B Summary Statement of Loans (inEur 000) Loans granted ___Analysis of aggregate to intermediarydirectly to Total loans granted credit final (before specific provisions) institutionsbeneficiaries ___ Disbursed portion 113,738,183 187,378,503 301,116,686- - Undisbursed portion 15,820,551 50,506,589 66,327,140 ___Aggregate loans granted 129,558,734 237,885,092 367,443,826 EIB Group Interim FinancialStatements 12

European Investment Bank AppendixI June30, 2009 NOTE C Participating Interests EIF capitalincrease This item for EUR 479,271,824 corresponds to the capital paid in by the Bank in respectof its subscription (EUR 1,822,000,000) to the capital of the European Investment Fund (EIF), withits registered office in Luxembourg. As at June30, 2009, the subscribed capital of the EIF hasincreased from EUR 2.865billion to EUR 2.940billion. The percentage holding of the Bank in theEIF has decreased from 63.60% at the end of December2008 to 61.97% at the end of June2009. Atthe EIF Annual General Meeting of Shareholders held on the May7, 2007, it was decided to issue1000 new shares, identical to the 2000 existing ones (nominal value EUR 1million each, paid inratio of 20%) between the June30, 2007 and June30, 2010. Out of the 1000 new shares, 940 weresubscribed as at June30, 2009. The Bank has decided to subscribe 609 new shares on June30, 2007.By June30, 2010, all shares not subscribed by the other shareholders will be subscribed by theBank. Commitment to purchase the remaining EIF shares at a fixed price Under the terms of theReplacement Share Purchase Undertaking, the EIB is offering to buy the remaining subscribed sharesfrom the EIFs other shareholders on the June30, 2009 for a price of EUR 349,049.95 per share. Thelatter corresponds to the part of each share in the called capital of EIF, increased by the sharepremium account, the statutory reserves, the disclosed unrealised gains in venture capitaloperations, the profit brought forward and the profit of the year. Given that the dividend for theyear will still be due to the other shareholders, the dividend decided will be deducted from the,thus obtained, price. The agreed formula is being applied to the approved and audited annualaccounts of the EIF for the financial year in which the option is exercised. NOTE D Debtsevidenced by certificates [See following page for summary statement of debts evidenced bycertificates] EIB Group Interim Financial Statements 13

NOTE D SUMMARY STATEMENT OF DEBTS EVIDENCED BY CERTIFICATES AS AT 30 JUNE 2009 (IN EUR 000)BORROWINGS CURRENCY SWAPS NET AMOUNT RECEIVABLE PAYABLE OUTSTANDING AVERAGE OUTSTANDING AVERAGE DUEOUTSTANDING OUTSTANDING IN AT 31.12.2008 RATE AT 30.06.2009 RATE DATES 31.12.2008 30.06.2009 AT31.12.2008 AT 30.06.2009 EUR 107 758 784 4.02 134 814 103 3.91 2009/2057 1 692 262 1 658 004106 066 522 133 156 099 GBP 47 705 235 5.11 57 824 501 4.91 2009/2054 15 100 101 21 018 548 32605 134 36 805 953 DKK 536 869 2.86 604 270 2.77 2010/2026 536 869 604 270 SEK 1 985 281 4.18 1 621272 4.12 2011/2028 552 571 555 510 1 432 710 1 065 762 CZK 928 119 5.03 598 912 3.87 2010/2030928 119 598 912 HUF 731 159 7.20 406 923 6.94 2010/2015 328 084 128 890 403 075 278 033 PLN 465206 6.29 309 240 6.34 2010/2026 93 313 64 594 371 893 244 646 BGN 309 336 6.60 324 675 5.832009/2013 309 336 324 675 SKK 144 175 4.75 0.00 0 144 175 RON 74 580 7.00 106 9598.88 2014/2016 74 580 106 959 USD 77 423 397 3.72 73 314 058 3.58 2009/2058 41 397 725- - 46 707 482 36 025 672 26 606 576 CHF 4 468 687 2.47 5 352 113 2.40 2009/2036 2 545 455 3 426138 1 923 232 1 925 975 JPY 10 331 351 0.97 10 461 933 0.88 2011/2047 10 022 170 9 817 700 309181 644 233 NOK 1 315 897 4.08 1 807 163 3.81 2010/2025 733 333 1 230 872 582 564 576 291 CAD770 751 4.70 797 797 4.72 2037/2045 775 163 811 929 4 412 14 132 AUD 4 971 016 5.83 6 741457 5.75 2009/2021 4 927 858 6 741 457 43 158 HKD 77 883 6.97 259 269 2.70 2009/2019 77883 259 269 NZD 2 806 416 6.88 3 160 787 6.90 2009/2017 2 788 227 3 160 787 18 189ZAR 1 160 062 8.91 1 339 714 8.60 2009/2018 791 164 935 013 368 898 404 701 MXN 79 425 8.57 82335 8.57 2009/2015 79 425 82 335 TWD 176 856 1.66 65 175 3.47 2010/2013 176 856 65175 TRY 2 518 980 14.04 2 001 043 12.91 2009/2022 2 484 077 1 994 687 34 903 6 356 ISK113 793 9.47 95 270 8.74 2010/2011 113 793 95 270 RUB 135 770 7.39 135 822 8.142011/2019 135 770 135 822 TOTAL 266 989 028 302 224 791 85 199 146 99 321 116 181789 882 202 903 675 The redemption of certain borrowings is indexed to stock exchange indexes(historical value: EUR 843million). All such borrowings are hedged in full through swapoperations. EIB Group Interim Financial Statements 14

EX-99.VII4u07437exv99wvii.htmEX-99.VII: INCREASE IN REGISTRANT'S BORROWING PROGRAMME FOR 2009

exv99wvii

EXHIBIT VII

Increase in registrants borrowing programme for 2009

In order to fund a potential additional loan disbursement volume up to EUR 10billion relative tothe Corporate Operational Plan forecast for 2009, the European Investment Banks Board of Directorsdecided, on July14, 2009, to increase the global borrowing authorisation for 2009 from EUR 70billion to EUR 80billion.

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