EBRD appoints Ahmad El Mokadem as Head of Baltic States

• Ahmad El Mokadem appointed EBRD Head of Estonia, Latvia and Lithuania
• Mr El Mokadem brings deep banking sector expertise across the region
• EBRD to continue supporting the Baltic states’ energy security and focus on competitiveness

The European Bank for Reconstruction and Development (EBRD) has appointed Ahmad El Mokadem as Associate Director, Head of the Baltic States, effective 1 September 2026.

Based in Vilnius, Mr El Mokadem will be responsible for the Bank’s operations in Estonia, Latvia and Lithuania, reporting to Andreea Moraru, Managing Director for Central Europe and the Baltic States.

Mr El Mokadem succeeds Tomas Kairys, who has been appointed Director, Head of the Caucasus. 

A dual Egyptian and British national, Mr El Mokadem joined the EBRD in 2013 and has since built extensive experience in the Bank’s energy sector, leading a broad portfolio of energy transition and infrastructure transactions across Europe and the Middle East.

Currently a Senior Banker in the Energy Europe team, Mr El Mokadem has played a key role in building and scaling the Bank’s energy business across the Baltic states and the wider central and eastern Europe region. His deep knowledge of the region and extensive operational experience are particularly relevant for the Bank’s mandate in the Baltic states, which is focused on energy security and infrastructure resilience, capital market development and private-sector development.

As Head of the Baltic States, Mr El Mokadem will build on his regional experience to support the delivery of EBRD investments, which remain central to sustaining the region’s competitiveness and continued integration into European and global markets.

The EBRD is a leading institutional investor in the Baltic states. The Bank has invested more than €2.1 billion in Lithuania and more than €1.3 billion in each of Estonia and Latvia, with a focus on supporting their transition to become greener and more resilient economies through investments in renewable energy, capital market development and innovation-driven sectors.