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EBRD's shareholder representatives visit Latvia
Meet senior government ministers and business leaders
Representatives of the shareholders of the European Bank for Reconstruction and Development arrive in Latvia for a three-day visit today.
The delegation will meet with senior government officials, including Mr Roberts Zile, Special Minister for Cooperation with IFIs and Mr A Kalvitis, Minister of Economy, head of the Central Bank of Latvia, Mr Einars Repse, business leaders, representatives from international financial institutions and representatives from leading non-governmental organisations. They will also visit existing EBRD projects.
The EBRD, one of the largest investors in Latvia's private sector, has invested around €302 million in 26 projects, and expects to build on that with potential future projects in sectors that include municipal development, infrastructure, private enterprise and banking. The Bank has in total mobilised €740 million in foreign direct investment.
The Board of Directors, which represents the EBRD's 62 shareholders - 60 countries plus the European Community and the European Investment Bank. The Board approves all EBRD investments. Their visit aims to underline the EBRD's commitment to support investments in Latvia, as well as to help directors better understand the country's investment climate and reform efforts.
Later this month, the EBRD's Board of Directors is expected to review the Bank's updated strategy for Latvia. This visit will enable the directors to formulate an overview of Latvia's progress ahead of the forthcoming strategy discussions.
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