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EBRD's shareholder representatives visit Latvia
Representatives of the shareholders of the European Bank for Reconstruction
and Development begin a three-day visit to Latvia on Wednesday. The Board of
Directors represents the Bank’s 62 public shareholders and approves all Bank
projects. The goal of the visit is to gather first-hand impressions of the
early influences of EU membership. Latvia joined the European Union on 1 May.
Members of the delegation will be Kalin Mitrev, representing Bulgaria, Poland
and Albania; Igor Ocka, representing the Czech Republic, Hungary, the Slovak
Republic and Croatia; Kaarina Rautala, representing Finland, Norway and
Latvia; Hans Sprokkreeff, representing the Netherlands and Mongolia; Peer
Stanchina, representing Germany; and Rauli Suikkanen, adviser.
During the visit the Board members will meet Latvia’s Prime Minister Indulis
Emsis, Minister of Economy and EBRD Deputy Governor Juris Lujans, and
representatives of other international financial institutions as well as the
diplomatic and business communities. The delegation will also visit a number
of projects which the Bank has financed.
The EBRD is committed to assist Latvia with the challenges of EU membership.
In its latest strategy for Latvia, adopted in October last year, the Bank
underlines that it will focus on supporting large-scale foreign direct
investment projects, as well as investments in the manufacturing and service
sectors by medium-sized foreign and local companies. The EBRD will also help
develop financial products that are currently not well supplied, such as
equity, and support infrastructure projects with a focus on facilitating
private-sector participation.
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