To date, the Bank has invested €650 million in 77 projects in Lithuania
The European Bank for Reconstruction and Development (EBRD) has adopted a new country strategy for Lithuania which will direct the Bank’s operations in the country over the next four years.
The document identifies the following strategic orientations:
- Bolstering energy security and increasing energy efficiency. The EBRD will support the further integration of the Lithuanian energy market with the rest of the EU as well as investment in local energy production from renewable sources. The Bank will also seek to facilitate investments in energy efficiency.
- Enhancing private sector competitiveness through innovation. New investment in high-value added production and innovation is needed to enhance capacity and achieve sustainable economic growth. The EBRD will look for opportunities to invest, directly and indirectly, in support of innovative and competitive companies.
The EBRD has been investing in Lithuania since the country regained its independence in 1991. To date, the Bank has invested €650 million in 77 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.
Lithuania 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.