Banks, EU – Baltic States, Financial Services, Investments, Latvia, Markets and Companies

During the EBRD annual meeting in Tbilisi, Reirs emphasized that the EBRD had to invest more in Central Europe and Baltic countries, especially in light of the current geopolitical situation in the regions where the EBRD operates.

"Cooperation with the EBRD has contributed significantly to business development in Latvia. I believe that the EBRD should help the recipient countries, including Latvia, to further develop the economic cooperation among them, and to foster experience exchange between the more and less developed recipient countries," said Reirs, adding that he also encouraged Latvian businessmen to be more active in using opportunities offered by the EBRD funding.

The EBRD portfolio in Latvia was EUR 182 million in the financial and energy sectors at the end of this past March. The most recent projects implemented in Latvia, including regional projects, included EUR 10 million investment by the EBRD into "BPM Mezzanine Fund". On April 8, the EBRD board approved an investment of EUR 17 million in "Livonia Partners Fund I" capital for investment in small and medium-sized companies in the Baltic countries.