EBRD President Sir Suma Chakrabarti will start a four-day visit to the Baltic states in the Estonian capital Tallinn tomorrow. Sir Suma will then travel to Latvia and conclude his trip in the Lithuanian capital Vilnius, where he will also attend the third Eastern Partnership Summit.
During his visits President Chakrabarti will meet with government representatives, supervisory authorities and members of the business community in all three countries. Strengthening the economic recovery and securing sustainable development will be major topics in Sir Suma’s meetings with key decision-makers.
“I welcome the opportunity to travel to the Baltics and meet with government and business representatives”, said Sir Suma. “We are impressed by what these countries have achieved and we want to applaud their determination and commitment to continue with the reform process.”
The three countries have bounced back strongly from the global economic crisis. This year, Latvia and Lithuania – with growth rates of 4.2 and 3.0 per cent, respectively – are growth leaders in Europe. Strong productivity gains have helped the Baltic states to regain international competitiveness and the latest EBRD forecast sees further robust growth for their economies.
Since the start of operations in 1991 the EBRD has invested more than €1.7 billion in some 220 projects in the Baltic states, supporting all sectors of their economies. Currently, the Bank’s activities focus on targeted areas such as the provision and mobilisation of private equity, assistance for innovative companies with growth potential beyond the region, and support for energy efficiency and renewable energy.