European Bank for Reconstruction and Development President Jean Lemierre has supported the idea of closer cooperation with Latvian businesses to help them expand on Eastern markets.
After meeting Lemierre in Tashkent, where the bank's annual board of directors' meeting was held, Latvian Finance Ministry's structural instrument department head Andris Kuznieks said that cooperation with the EBRD was very beneficial for Latvian businesses.
This is especially true for those business trying to expand their operations to Russia and other CIS countries, as the EBRD is well-known there and entering the markets with the help of the bank would be easier.
A more detailed plan could be discussed in June, when the first vice president of the EBRD, Noreen Doyle, visits Latvia.
The EBRD has decided to focus on funding medium-sized-business and municipal projects in EU candidate countries, diverting its main activities to the poorer countries of Eurasia.
The EBRD has until now invested over 320 million euros in projects in Latvia, with the total value of these projects exceeding 1 billion euros.
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