EBRD meeting in Riga to address expansion of bank's operations and support for Ukraine and Moldova

RIGA - The Annual Meeting of the European Bank for Reconstruction and Development's (EBRD) Board of Governors in Riga this weekend is expected to address a wide range of issues, including support for Ukraine and Moldova, as well as the expansion of the bank's operations, for example in Africa and elsewhere, European Union (EU) Commissioner for Economy and Productivity Valdis Dombrovskis (New Unity) told journalists.

Participants in the meeting will also discuss how the EBRD is keeping pace with the EU's strategic priorities in the field of technology development.

Dombrovskis noted that the focus of the event is not on attracting funding for Latvia, but more globally on the overall performance and progress of the EBRD.

Typically, meetings of EBRD Board of Governors are held at the bank's headquarters in London or in one of the EBRD member countries where the bank is implementing projects. According to the EU commissioner, this is the second time that the event is held in Riga, the first being in 2000. More than 2,000 participants are expected to attend the meeting.

One of the side events of the EBRD meeting was a meeting on the practical implementation of the EastInvest Facility. Dombrovskis explained that the EastInvest Facility has specific investment targets because the EU wants to provide support to the bloc's eastern border regions. The meeting was an opportunity to bring together European financial institutions with representatives from Latvia's easternmost region, Latgale, Development Finance Institution Altum, local governments, and businesses to discuss how projects on Latvia's eastern border are promoted to make the work more practical.

The 35th Annual Meeting of the EBRD Board of Governors and Business Forum are taking place in Riga from today to June 7, bringing together government representatives, investors, business leaders, policymakers, and opinion leaders from around the world. The event will combine high-level policy discussions with a business forum program.

The main theme of the meeting is "Volatile to versatile: Economies innovating in a changing world", highlighting how economies are adapting to today's changing conditions by fostering innovation, digitization, and sustainable economic growth.

The Annual Meeting of the EBRD Board of Governors is one of the most important events on the global development, investment, and economic agenda. It brings together government representatives, investors, private sector leaders, representatives of non-governmental organizations, and opinion leaders to discuss the current challenges and opportunities in regional and global economic development.

The meeting will include high-level plenaries, investment sessions, thematic discussions, networking events, and bilateral meetings.

The meeting will provide important visibility for both Latvia and the region while creating opportunities for local companies and organizations to network with international partners.

During the meeting, EBRD President Odile Renaud-Basso is expected to sign the agreement on a EUR 26 million loan for the Next Biogas plant in Ledurga.