Lithuania Finance Minister urges World Bank to make Baltics donor countries

In a meeting with Jim Yong Kim, president of the World Bank (WB), Lithuanian Finance Minister Rimantas Sadzius asked him to change the status of Lithuania, Latvia, and Estonia from recipient to donor countries.

All three Baltic States stated their position regarding the change of their status back in 2006, while the official request was made last year during the annual meeting of representatives of the WB and the International Monetary Fund.

"Since the restoration of our independence in 1990, the WB has been a steady and important supporter of Lithuania and the other Baltic States in reforming and strengthening our region economically and politically. Thanks to the joint efforts of the Bank, international community and the countries themselves, we managed to turn the Baltic region into a place of growing economy and welfare in just a few decades. As this year Lithuania joined the eurozone, making the unity of the Baltic States more than symbolic, it would be a logical step to complete yet another process of transformation," the minister said.

Jim Yong Kim assessed the reforms Lithuania has implemented and promised to take into consideration the arguments made by the Baltic countries regarding the reclassification of their status.

Latvian Finance Minister Janis Reirs, who also met with Jim Yong Kim, said "as a result of focused work, the Baltic countries have been developing fast, proving themselves as professional and competent partners to international organizations, and as countries whose opinions are increasingly respected. This is a historic moment when the attitude toward the Baltic countries begins to change, and they are given the chance to act as advisors. This opens up new opportunities for the Baltic countries to use their knowledge in order to influence international developments. We are no longer among the countries that are recipients of aid, we provide aid to other, less developed countries of the world. This is a matter of not only reputation, but also broader cooperation opportunities," explained Reirs.

Reirs also commented on Latvia's priorities during the Presidency of the Council of the European Union, noting that these priorities were largely in line with the World Bank's activities, including work on the Investment Plan for Europe.