Kreivi, who is currently head of funding for the Americas, Asia & Pacific at the EIB, will succeed Barbara Bargagli-Petrucci, who will go into retirement.

The succession will take place effective 1 April 2011.

EIB director General of Finance Bertrand de Mazieres said Barbara brought great distinction to this critical role. She fundamentally re-developed the funding strategy and brought it to fruition over the last decade. She also cultivated an admirable spirit of partnership between the market and EIB. She will be greatly missed and we wish her well in the new chapter of her life.

"Eila’s appointment promises a smooth transition, given her very strong experience in the capital markets, including an excellent track record at the EIB. We are delighted that she will bring her distinguished skill-set to this role, and are confident that she will make a valuable contribution to the further evolution of EIB’s funding activities," De Mazieres said.