To date, EBRD has invested €640 million in 74 projects in Latvia
The European Bank for Reconstruction and Development (EBRD) has adopted a new country strategy for Latvia which will direct the Bank’s operations in the country over the next four years.
The document identifies the following strategic orientations:
- Strengthening energy security and improving energy efficiency. The EBRD will support diversification of energy sources through regional energy market integration as well as investments in domestic, in particular renewable, energy resources to boost local energy generation. The Bank will also seek to facilitate investments in energy efficiency.
- Boosting private sector competitiveness through innovation. Latvia needs new investment in high value-added production and innovation to enhance capacity and achieve sustainable economic growth. The EBRD will seek to facilitate access to finance, especially equity, for innovative and competitive companies through direct investment and via private equity funds.
The EBRD has been investing in Latvia since the country regained its independence in 1991. To date, the Bank has invested €640 million in 74 projects in all sectors of the country’s economy with a special focus on support for small and medium-sized enterprises, strengthening the private sector and promoting energy efficiency and renewable energy.
Latvia became a member of the European Union in 2004 and is one of the most advanced countries where the EBRD invests. However, longer-term challenges remain. The EBRD continues to be well-placed to play a role in overcoming these gaps through its investments and policy dialogue.