Former Greek Deputy Minister Ioannis Tsakiris Joins EIB Management Committee

Former Greek Deputy Minister Ioannis Tsakiris Joins EIB Management Committee

(IN BRIEF) Ioannis Tsakiris, a former Greek deputy minister with extensive experience in finance and investments, has been appointed to the Management Committee of the European Investment Bank (EIB). Tsakiris, who previously served at the European Investment Fund (EIF) and played pivotal roles in Greece’s development and investment initiatives, brings a wealth of knowledge to his new position. As a member of the Management Committee, Tsakiris will contribute to overseeing the EIB’s operations and decision-making processes, furthering its mission to support economic growth and development across the European Union.

(PRESS RELEASE) LUXEMBOURG, 2-May-2024 — /EuropaWire/ — The European Investment Bank (EIB) is pleased to announce the appointment of Ioannis Tsakiris to its Management Committee. Following a decision by the EIB’s shareholders – the Member States of the European Union – Ioannis Tsakiris from Greece succeeds Christian Kettel Thomsen, who left the bank last year to become Governor of the Danish Central Bank. The new Vice-President started his term on 01 May 2024.

An engineer by training, Ioannis Tsakiris has extensive experience at the EIB Group, having worked for 15 years at the European Investment Fund (EIF), before becoming Greece’s Deputy Minister for Development and Investments in 2019. He served in various roles at the EIF, including as head of South-Eastern Europe and EU Neighbouring Countries Division, and worked in areas ranging from private equity investment to strategic development. In his capacity as Greek deputy minister between 2019 and 2023, he was supervising the deployment of EU structural funds as well as the Public Investment Programme for Greece and he was also instrumental in the establishment of the Hellenic Development Bank, Greece’s national development institution. Furthermore, for that period he was Alternate Governor in the EBRD and the World Bank Group as well as member of the board of directors of the Black Sea Trade and Development Bank.

“Having served the EIB Group for the best part of my career, it is a great honour to become a member of its leadership team,” Tsakiris said. “Our work is bringing tangible benefits to the people of the EU, supporting businesses every day, boosting the competitiveness of our economies and facilitating key investments.”

EIB President Nadia Calviño cited the internal and external know-how that Tsakiris will bring. “Ioannis Tsakiris knows how the EIB Group works and he has first-hand experience in developing and deploying our financing instruments,” Calviño said. “I am glad to welcome someone who brings such a wealth of expertise and experience to our Management Committee.”

The Management Committee is the EIB’s permanent collegiate executive body. It has nine members – the President and eight Vice-Presidents. Under the authority of the President and the supervision of the Board of Directors, it oversees the day-to-day running of the EIB, prepares decisions for Directors and ensures that these are implemented. Its members are appointed by the Board of Governors, consisting of EU finance ministers, on a proposal from the Board of Directors.

Background information

EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality, in line with the goals of the Paris Agreement.

The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. These commitments are expected to mobilize around €320 billion in investment, supporting 400,000 companies and 5.4 million jobs.

Approximately half of the EIB’s financing within the EU is directed towards cohesion regions, where per capita income is lower. This underscores the Bank’s commitment to fostering inclusive growth and the convergence of living standards.

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SOURCE: European Investment Bank