EBRD President: Cooperation Between Lithuania and EBRD is Highly Productive

Date

2019 05 07

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At the annual meeting of the Council of Governors of the European Bank for Reconstruction and Development (EBRD) in Sarajevo (Bosnia and Herzegovina) Minister of Finance Vilius Šapoka had a meeting with EBRD President Suma Chakrabarti.

Last year EBRD invested in Lithuania a record amount of funds – EUR 141 million. Since 1992, in total, the Bank made investments in 88 projects in our country. The investments total EUR 861 million. At the meeting EBRD President Suma Chakrabarti welcomed a productive cooperation with Lithuania.

“The EBRD contribution is of vital importance to Lithuania to ensure energy security and efficiency, also to enhance competitiveness of national companies through innovation. The investments followed by expert assistance had a significant impact on a successful implementation of dozens of projects in Lithuania. In the future, we plan to further strengthen cooperation, especially in Fintech sector“, says Minister of Finance Vilius Šapoka.

In recent three years EBRD implemented in Lithuania financial instruments in the area of venture capital, energy efficiency projects such as modernisation of multi-apartment buildings, street lighting system, also made investments in green bonds, innovative and export-oriented business of Lithuania.

EBRD also provides consultations to Lithuania concerning securitisation and covered bonds project, and  contributes to the development of the domestic capital market – makes investments in private and venture capital funds as well as provide expertise to improve the regulatory environment.

 

Additional information:

  • The European Bank for Reconstruction and Development (EBRD) – international financial institution established in 1991. The Bank’s membership compiles 67 countries and two international institutions – the European Commission and the European Investment Bank.
  • In Lithuania EBRD contributes to energy, transport infrastructure projects, participates in maintaining the stability of financial institutions (EBRD is the majority shareholder in AB Šiaulių Bankas), developing the capital market, also issues loans to small and medium-sized businesses.