European Investment Bank names Andrew McDowell vice-president

An economic advisor to Ireland’s prime minister since 2011, McDowell is the first Irish member of EIB’s management committee in 12 years.

Multilateral lender European Investment Bank (EIB) has named Andrew McDowell, former economic advisor to the taoiseach, Ireland’s prime minister, as vice-president effective September 1, 2016.

McDowell, who is expected to serve in his new role for four years, will be the first Irish member of the bank’s management committee in twelve years. The management committee is a nine-member executive body responsible for overseeing EIB’s daily operations, preparing decisions for the board of directors and ensuring these decisions are implemented.

The 28 European Union finance ministers who comprise EIB's board of governors appointed McDowell after Michael Noonan, Irish finance minister, nominated him.

Before McDowell began advising the taoiseach in 2011, he was chief economist at Irish business development agency Forfás, and European deputy editor at Economist Intelligence Unit, the economic, political and risk forecasting services company within media business The Economist Group.

McDowell said: “Demonstrating a firm response to the economic crisis, [EIB] has played a key role unlocking new investment in social and economic infrastructure, improving access to finance and supporting improved economic opportunities both in Ireland and across Europe.

I look forward to helping…EIB build on this proven track record and strengthen its role and relevance in the years ahead.”

A graduate of John Hopkins University and University College Dublin, McDowell also holds a master of business administration degree from Michael Smurfit Graduate School of Business.

Over the last five years EIB, which is owned by EU member states, has provided more than €3.8bn ($4bn) for long-term investment across Ireland.

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