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Vestager In The Running For European Investment Bank President

 |  June 20, 2023

Denmark has nominated Margrethe Vestager, the EU competition and digital regulation commissioner, to lead the European Investment Bank.

According to The Financial Times, Vestager, a senior official in the European Commission, has been nominated as a candidate in the race to replace Werner Hoyer, whose term ends in December. The competition includes several notable names.

“I am pleased that the Danish government has put forward my name to be vetted as a possible candidate for the position as president for the European Investment Bank,” said Vestager. “I confirm my availability for the assessment, awaiting the bank’s process and next steps.”

Related: EU’s Vestager Says They Will Have A Draft Voluntary AI Code This Month

Margrethe Vestager, a former economy and interior minister in Denmark, has been leading EU competition policy for almost ten years. During her tenure, she has imposed significant fines against major tech companies like Apple and Amazon.

Last week, Vestager expressed a warning to Google regarding its use of its dominant position in its ad marketplace. Kim Jørgensen, who previously served as her head of cabinet, resigned from the commission last year and now holds a position as director-general and EIB representative to the EU institutions in Brussels.

The importance of the EIB president’s role will grow as multilateral banks are increasingly asked to finance infrastructure projects and development focused on the green transition.