Minister of Finance Gintarė Skaistė Elected as Vice Chair of the Board of Governors of the EBRD
At the annual meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) in Samarkand (Uzbekistan), Minister of Finance Gintarė Skaistė was elected as Vice Chair of the Board of Governors for one year, i.e. until the annual Board of Governors meeting in Yerevan, Armenia, in May 2024.
The main role of the Chair and Vice Chairs of the Board of Governors is to chair the EBRD's annual meeting of the Board of Governors, where decisions are made on strategic issues of the Bank's operations. In addition, Gintarė Skaistė, as Vice Chair of the EBRD Board of Governors, will participate in solving relevant issues regarding the EBRD's further support to Ukraine, the geographical expansion of the Bank's activities, and will contribute to the selection process of candidates for the EBRD President's elections to be held next year.
"This is an important assessment for Lithuania, which shows that we are seen, heard and appreciated in the international community. One of the bank's near-term priorities, the implementation of which I will have the opportunity to contribute to, is to make decisions that ensure continued operations in Ukraine, including investment in urgent reconstruction projects. In the current geopolitical and economic situation, it is also important to maintain the active role of the EBRD in the countries of the region negatively affected by the war, including the Baltic countries, for example, by implementing vital energy independence consolidation projects, so that the precedent of last year's manipulation of the energy market by Russia does not repeat itself", says Minister of Finance Gintarė Skaistė.
During the annual meeting of the Board of Governors of the EBRD, the chair and two vice chairs are elected every year for a period of one year (until the next annual meeting). Minister of Finance Sigrid Kaag from the Netherlands was appointed as Chair of the EBRD Board of Governors, and Rania Al-Mashatir, the Minister of International Cooperation from Egypt, was also elected as Vice Chair for the years 2023-2024.
Additional information:
- The European Bank for Reconstruction and Development is an international financial institution established in 1991. The members of the bank 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 117 projects in our country, investments totaling EUR 1.39 billion. Last year, the EBRD invested a record amount of funds in Lithuania – EUR 208 million.
- In Lithuania, the EBRD contributes to energy and transport infrastructure projects, participates in supporting the stability of financial institutions, developing the capital market, and also provides loans to small and medium-sized businesses.
- The Board of Governors of the EBRD is the highest governing body of the EBRD. The EBRD Governor from Lithuania is Minister of Finance Gintarė Skaistė.
- Only the Governor can hold the positions of chair or vice chair of the Board of Governors. Vice chairs participate in the Bank's administrative processes in solving relevant issues of that year.
Last updated: 18-05-2023
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