BaltCap situation does not change Baltic plans – EIB vice president

VILNIUS –Thomas Ostros, vice-president of the European Investment Bank, which has invested EUR 20 million in BaltCap Infrastructure Fund, says he's disappointed by the news that millions of euros may have been embezzled from the fund, but insists that it will not affect the EIB's plans in Lithuania.

"This will not stop us from making good investments in the Baltic states. It does not change our business plan when it comes to investing in the Baltic states as we have great faith in the future of the Baltic states and we are ready to invest in it," Ostros said in an interview with the 15min news website.

"In the long term, I have no fear at all for the Baltic states as they are well-managed, strong economies, members of NATO. They will be attractive for investment", the EIB vice president added.

In 2023, the EIB Group allocated 654 million euros to projects in Lithuania, most of it in the form of loans to companies. 

Sarunas Stepukonis, a former partner at BaltCap Infrastructure Fund, is suspected of embezzling and gambling away more than 30 million euros from the fund's companies.