Ambroise Fayolle began his term as EIB Vice-President on 24 February 2015. Vice-President Fayolle's areas of oversight include financing of environment, climate action and the circular economy, EIB Global (development policy together with Vice-President Östros; pre-accession policy is with Vice-President Kakouris), financing operations in France, Germany, the ACP countries (Africa and the Pacific – except the Caribbean States and the Community of Latin American and Caribbean States (CELAC), jointly with Vice-President Östros), OCTs and South Africa. Vice-President Fayolle also oversees relations with international financial institutions, coordination with multilateral development banks (MDBs), and relations with the International Monetary Fund (IMF), the World Bank (WB) and the European Central Bank (ECB).