Czech Deputy Finance Minister Marek Mora will join the European Investment Bank (EIB) as Vice President from 20 October, taking on the position currently held by Cypriot Kyriacos Kakouris.
The move also makes Mora a member of the bank’s Management Committee.
According to an EIB announcement, the EIB Board of Governors, made up of Finance Ministers from the 27 European Union countries, appointed Mora on the basis of a nomination by the Czech government.
Mora has been Czech Deputy Finance Minister since April 2023. Before taking on that role, he was Deputy Governor of the Czech National Bank for more than four years, and he served in a senior role at the General Secretariat of the Council of the European Union, heading the cabinet of the secretary-general before running the department for budget, tax and regional policy. He will be the first Czech national to serve as EIB Vice-President since 2007.
“With his broad background in national and European financial governance and policymaking, Marek Mora will strengthen our capacity to drive impactful investment and promote economic resilience across the EU,” EIB President Nadia Calviño commented.
“I look forward to contributing to the EIB’s mission of fostering sustainable development and economic cohesion,” said Marek Mora. “The EIB has a pivotal role in shaping Europe’s investment landscape and joining the bank is a privilege.”
The last EIB Vice-President from Czechia was Ivan Pilip, who served from 2004 to 2007.
The EIB Group, which also includes the European Investment Fund (EIF), has operated in Czechia since 1992 and has provided nearly €30 billion in financing for public and private investments across the country. This includes support for green energy, small and medium-sized enterprises (SMEs) and major transport infrastructure such as railways.
Appointed in October 2023, Kakouris is first-ever EIB Vice President from Cyprus.
An economist by training, Kakouris had previously served on the EIB’s Board of Directors for almost 20 years, including a few years as Chairperson of the Ethics and Compliance Committee of the Bank.
Before his appointment as Vice President of the EIB, he was Director of Strategy and Coordination and before that of International Financial Institutions and Financial Management of Central Government at the Cyprus Ministry of Finance.
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.
