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European Investment Bank

Source: Alexander Stubb likely to be named next EIB vice president

The Finnish government will likely recommend former Finance- and Prime Minister Alexander Stubb for the vice president post at the EIB, the European Investment Bank, according to an Yle Uutiset source. The EIB is the EU's non-profit lending institution.

Alexander Stubb
Former Finance- and Prime Minister Alexander Stubb. File photo. Image: Petteri Paalasmaa / AOP

A source familiar with the issue told Yle Uutiset that Alexander Stubb is likely to be named the EIB's next vice president.

If Stubb gets the job, he will be the successor to the EIB's current VP Jan Vapaavuori, who's leaving the post for a new job as Helsinki mayor.

The EIB VP post changes by country on a rotating basis between Finland, Sweden and Austria. In Finland, the job regularly goes to a member of the National Coalition Party.

Petteri Orpo, the current finance minister and National Coalition Party chair, will in practice have the final say about who gets the job.

Finland is in charge of the EIB VP post until August 2019.