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EBRD President visits Iceland
Presentations to show benefits of working with the Bank in eastern Europe
Jean Lemierre, President of the European Bank for Reconstruction and Development, meets tomorrow (Wednesday) with senior government officials and leading businesspeople in Iceland to discuss the investment potential of central and eastern Europe and the Commonwealth of Independent States. It is the first visit of an EBRD President to Iceland, which is a shareholder of the Bank.
The EBRD, owned by 60 countries and two intergovernmental institutions, aims to foster the transition from centrally planned to market economies in Europe’s former communist bloc. It employs €20 billion of capital to make loan and equity investments across the region.
During his visit Mr Lemierre will meet the EBRD’s Governor for Iceland, Valgerdur Sverrisdottir, who is Minister of Industry and Commerce. He will be accompanied by Sven Hegelund, the EBRD Board Director representing Iceland, Sweden and Estonia. The Icelandic government has contributed to several EBRD technical cooperation funds, which have helped improve the Bank’s projects in countries including Ukraine, Russia and Croatia.
In meetings with the business community, Mr Lemierre will discuss some of the investment that has already been conducted by Icelandic companies in central and eastern Europe – such as Pharmaco’s investment, alongside the EBRD, into the Bulgarian pharmaceutical producer Balkanpharma – and will stress the potential for further cooperation. Mr Lemierre will also visit the Svartsengi Geothermal Plant to learn the benefits of the research on geothermal energy.
In addition to Mr Lemierre, senior staff from the Bank will make a series of presentations to inform local investors, exporters and commercial institutions of the benefits of working with the Bank in the region, including its expertise, AAA rating, ability to share risk, and its open dialogue with governments.
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