Lithuania’s Ministry of Finance announced that Thomas Östros has been elected Chairman of the Supervisory Board of ILTE, replacing Daina Klepone. Klepone will remain a member of the Supervisory Board and continue to serve on its Remuneration and Appointments Committee. The announcement links the leadership change to ILTE’s ongoing transformation into a national development bank following the consolidation of four Lithuanian national development institutions. As ILTE’s shareholder, the Ministry of Finance has set a target for the institution to mobilise and inject EUR 6 billion of investment into the Lithuanian economy over four years, with plans for ILTE to operate in line with bank supervisory requirements and to strengthen corporate governance and management bodies. Östros’ background includes serving as Vice-President of the European Investment Bank from 2020 to 2025 and as Executive Director of the Nordic-Baltic Group at the International Monetary Fund from 2016 to 2020; the ministry also noted that two additional experts with international experience were elected to the Supervisory Board in 2026. The Supervisory Board’s four-year term began on 7 April 2023.
Ministry of Finance (Lithuania) 2026-04-22
Lithuania's Ministry of Finance confirms Thomas Östros as chair of ILTE Supervisory Board
The Ministry of Finance of Lithuania announced the election of Thomas Östros as Chairman of the Supervisory Board of ILTE, replacing Daina Klepone, who remains on the board and its Remuneration and Appointments Committee. The leadership change is linked to ILTE’s transformation into a national development bank tasked with mobilising and injecting EUR 6 billion of investment into the Lithuanian economy over four years, operating under bank supervisory requirements and strengthened governance.