INVEGA’s supervisory board selected four members of the executive board for a four-year term, who will also serve as managers of specific functions. The board will start work with the new composition on September 11, and after the first meeting of the board, the new chairman of the INVEGAS board will be announced, who will also hold the position of manager.
“A unified and effective National Development Agency (NDA) will gather various financial instruments in one place, so it is very important to attract and retain professionals. NPI will contribute to the achievement of strategic state goals: creation of higher added value, strengthening of energy self-sufficiency. A strong, independent and politically independent board of the company will ensure the synergy of various financial instruments, the creation of new financial instruments, the attraction of new sources of financing, and the effective use of EU support,” noted Finance Minister Gintarė Skaistė.
According to the minister, this reform is one of the components of the “New Generation Lithuania” plan, which will help Lithuania achieve a breakthrough in the field of finance and create a more sustainable and resilient future economy.
The executive board of the National Development Institution Investment and Business Guarantee (INVEGA) will consist of professionals in their field:
Dainius Vilčinskas – a member of the board responsible for the company’s overall corporate governance, organizational transformation, development and digitization. D. Vilčinskas is a strategic business and financial management professional with experience in business digitalization, sustainable business development and sales management. In 2020, he was entrusted with the establishment and management of UAB Valstys investmenti valdynye agency (VIVA), one of the institutions consolidated on the basis of INVEGAS, whose purpose was to invest in medium and large companies affected by COVID-19.
Inga Beiliuniene – the member of the board, who currently holds the position of INVEGAS deputy general director and business development director, will be responsible for the development of INVEGAS activities, strategic product planning, development and management of the company’s products. I. Beiliūnienė has accumulated 12 years of experience in national and international financial institutions and 20 years of experience in creating and implementing various financial instruments for businesses of all sizes.
Jonas Kanapeckas – Board member responsible for risk, compliance and quality assurance. J. Kanapeckas, a long-time member of the former investment committee of the Bank of Lithuania, the market operations and risk management committees of the Eurosystem, both as an expert and in leadership positions, has accumulated more than two decades of experience working at the Bank of Lithuania in the fields of investment, monetary policy operations and risk management.
Lina Stragauskiene – the board member will manage financial management, IT development and operational administration in the company. L. Stragauskienė has more than 16 years of work experience in the Lithuanian branch of Danske Bank, where she managed various areas related to the company’s finances. For the past 5 years, L. Stragauskienė has been a member of the company’s management team, actively participating in the implementation of the company’s strategic decisions, complex systems and transformation projects of the company’s operations.
Daina Kleponė, the chairperson of INVEGA’s supervisory board, is happy that she managed to gather a strong and competent team that will complete the consolidation processes that have already started and will be responsible for the formulation and implementation of the joint business strategy of the group of companies.
“I would single out the creation of a united organizational culture as one of the biggest challenges awaiting the new board. Now there are four consolidated organizations under one roof with their own distinct cultures, areas of activity and services. The management team will need to turn all of this into a united organization with strong operational principles, common values and created value for the Lithuanian economy, says D. Kleponė. – This organization will become the main engine of the country’s economy – the company’s goal will be to increase the competitiveness of the economy by offering customers financial solutions that meet their needs, developing the development of capital markets and promoting sustainable financing.”
In accordance with the statutes of INVEGAS, the newly formed board will have to elect the chairman of the board, who will also act as the head of INVEGAS. In addition to the current subordinates of UAB Kofinansavimas, KŪB “Promotion of Sustainable Resources” (TIPS) and UAB State Investment Management Agency, the Green Finance Institute will also be under the leadership of the head of INVEGAS. The Supervisory Board proposes the candidacy of Dainius Vilčinskas for the post of General Director of INVEGAS.
The chairman of the board and the head of INVEGAS will be elected by the newly elected board on September 11. during the first board meeting.
UAB “Investicijų ir verslo garantijos” (INVEGA) is a national development institution whose shareholder is the Ministry of Finance, representing the Government of the Republic of Lithuania. In implementing the “New Generation Lithuania” plan and aiming to direct sufficient investments to areas important to the state and faster economic development, from 2023 August 1 four national development institutions were merged: INVEGA, the Public Investment Development Agency (VIPA), the State Investment Management Agency (VIVA) and the Agricultural Loan Guarantee Fund (ŽŪPGF), so services for business, the public and the agricultural sector are provided on a one-stop basis – through INVEGA .