G. Skaistė at the meeting with the President of the EBRD: “The Bank’s investment is crucial to sustaining the viability of the Ukrainian economy”
Today Minister of Finance Gintarė Skaistė met with President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso. The meeting focused on the discussions on the Bank’s role in providing financial support to Ukraine, the institution’s ability to invest in the defence and security sector and the EBRD investments in Lithuania.
The Minister and O. Renaud-Basso discussed the EBRD’s financial support to Ukraine and priority areas for further investments. The meeting also highlighted the importance of involving the private sector, including Lithuanian companies, in the reconstruction of Ukraine.
“We welcome the EBRD’s investment in Ukraine and the fact that the Bank specialises in working with the private sector, as it is crucial to sustain the viability of the economy of the country at war. We urge the bank not to cut back and further expand its financial support in Ukraine, including contributing to the reconstruction of the country,” Minister of Finance G. Skaistė said.
Since the beginning of the russian war against Ukraine, the EBRD has invested more than EUR 4 billion in the country’s economy and foresees further investments in energy security, restoration of vital infrastructure, securing food supply chains, maintaining trade and maintaining private sector liquidity.
The possibilities to expand the EBRD investments in the defence and security sector, Lithuania’s economic situation and directions of further investment by the Bank in the country, giving priority to the transition to green and knowledge-based economy and capital markets development, were also discussed at the meeting.
Additional information:
• The European Bank for Reconstruction and Development is an international financial institution established in 1991. The Bank's members include 71 countries and two international institutions - the European Commission and the European Investment Bank.
• Lithuania has been a member of the EBRD since 1992. The Bank has invested in 125 projects in our country, totalling EUR 1.537 billion. The EBRD invested a record amount of EUR 208 million in Lithuania in 2022 and invested EUR 150 million in 2023 in a record amount of 14 projects.
• In Lithuania, the EBRD contributes to energy and transport infrastructure projects, participates in maintaining the stability of financial institutions, developing the capital market, as well as provides loans to small and medium-sized businesses.
• The Board of Governors of the EBRD is the highest governing body of the EBRD. The Governor of the EBRD from Lithuania is Minister of Finance Gintarė Skaistė.
• Last year at the annual meeting of the Board of Governors of the EBRD G. Skaistė was elected Vice Chair of the Board of Governors for one year, until May 2024.
Last updated: 18-04-2024
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