To strengthen ILTE as a national development bank, the Ministry of Finance announces the selection of independent members of the Supervisory Board
The Ministry of Finance announces the selection of two independent candidates for the position of members of the Supervisory Board of the private limited liability company ILTE. Candidates may apply until 2 December.
Implementing the intention of the Ministry of Finance, as a shareholder of ILTE, to turn ILTE into the Lithuanian Development Bank by strengthening its governance model and expanding its competences, the number of independent members of the Supervisory Board is increased.
Two independent candidates with international experience are sought for the position of members of the Supervisory Board in the field of business development competencies and in the field of investment mobilisation, cooperation with international financial institutions and the private sector.
The selection of applicants for the position of independent members of the Supervisory Board of ILTE will be carried out by a selection board consisting of one representative proposed by the Prime Minister, one representative proposed by the head of the institution representing the State, one representative proposed by the Minister of Economy and Innovation, one representative proposed by the Minister of Finance, and one representative of the Governance Coordination Centre.
The Supervisory Board of ILTE consists of 9 members, six of whom must meet the criteria of independence set out in the Description for candidates to the collegiate body of state-owned enterprises. This composition of the Supervisory Board ensures the attraction of the necessary competences and the implementation of the principle of independence.
The term of office of the new Supervisory Board is until April 2027 (until the end of the term of office of the current Supervisory Board).
More information on the selection of independent Supervisory Board members can be found here.
The shareholder of ILTE is the State of Lithuania, which owns 100% of the shares. The rights and duties of the shareholder are exercised by the Ministry of Finance.
Last updated: 13-11-2025
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