The EU has chosen a Spanish representative to lead the EIB, the Belgian minister announced

“We have reached a conclusion and agreed on Nadia Calvino’s candidacy for the post of EIB president,” said Belgian Finance Minister Vincent Van Peteghem after the meeting of EU finance ministers in Brussels.

The 55-year-old N. Calvino took the lead in a tense battle with the European Commissioner responsible for competition, Margrethe Vestager.

Since its inception in 1958, the EIB has had seven presidents, all of them men and none of them Spanish, the economist said as she launched her candidacy to become the first woman to lead the financial institution.

She will replace German Werner Hoyer, whose second six-year term as EIB chairman ends at the end of the year.

The decision strengthens the international authority of a woman who entered politics five years ago and established herself in Spain’s left-wing government. Her liberal views ensure budgetary conservatism among her radical leftist colleagues.

This 1950s fan is said to be polite but demanding in negotiations.

Ms. Calvino has had her share of challenges in recent years: she had to lead the Spanish economy during the COVID-19 pandemic and overcome the economic shocks caused by Russia’s invasion of Ukraine.

Under her leadership, the Spanish economy grew by 5.5 percent last year. – one of the fastest rates in Europe, and inflation decreased to 1.9 percent in June. and reached 3.2 percent in November. and was one of the smallest in the eurozone.

In 2020, the mother of four was a candidate to head the group of eurozone finance ministers. However, even with the support of Madrid, she could not win these positions.

However, in December 2021, she was elected Chair of the Monetary and Finance Committee of the International Monetary Fund (IMF).

Last year, Calvino, who likes to match her outfits with animal-shaped brooches, found herself in the media spotlight when she refused to be photographed at an event organized by the Federation of Madrid Employers after realizing she was the only woman in the group.

At the time, she said that the lack of equality in government circles was a problem that needed to be taken seriously if society was to function properly. She added that she will no longer participate in debates in which she is the only woman.