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eeef Annual Report 2013

The Fund’s Setup Geographic Scope eeef targets investments in the member states of the European Union, currently: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom. Operational Structure The Fund’s shareholders are represented by the Management Board, which oversees the eeef’s activities and is responsible for strategic decisions. The Management Board is the legal representative of the Fund with exclusive power to administer and manage the Fund. The Management Board appoints the Investment Committee, which reviews investment decisions proposed by the Investment Manager and gives recommendations to the Management Board. It has an advisory role for investments, divestments and other management decisions. The Investment Manager conducts the Fund’s business on behalf of the Management Board. The Investment Manager also manages the technical assistant facility of eeef. The Supervisory Board controls the management of the Fund and provides strategic advice to the Management Board on the overall development of the eeef’s activities. TARGET COUNTRIES 28 The European Energy Efficiency Fund at a glance 9