On the basis of a decision by the European Council, a committee of ‘wise persons’, chaired by Michel Camdessus, was set up in 2008 to carry out a thorough assessment and examination of European Investment Bank operations outside the European Union (EU) since 2006 that are covered by an EU budget guarantee. This report, signed on 9 February 2010 and published on 24 February 2010, provides recommendations to improve the Bank’s interventions outside the EU.