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eeef Annual Report 2015

The Fund’s Setup 28 target countries Geographic Scope The eeef targets investments in the Member States of the European Union, currently: Austria, Belgium, Bulgaria, Croatia, Cyprus, the 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 the exclusive power to administer and manage it. The Management Board appoints the Invest- ment Committee, which reviews the investment decisions proposed by the Investment Manager and provides recommendations to the Manage- ment Board. It has an advisory role regarding in- vestments, 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 EC TA Facility as well as the eeef’s own TA Facility. The Supervisory Board controls the manage- ment of the Fund and provides strategic advice to the Management Board regarding the overall development of the eeef’s activities. The European Energy Efficiency Fund at a Glance 11