The President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso positively assessed Latvia's development, noting the country's successes in innovation, economic transformation, and attracting investments.
Latvia has become one of the successful stories of economic transformation in the European Union, believes the President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso.
In an interview with the LETA agency, she stated that the country has achieved significant results in the development of innovations and modernization of the economy since joining the EU.
According to Renaud-Basso, since the EBRD began its operations in Latvia in 1992, the bank has invested about 1.2 billion euros in more than 100 projects.
The funds were directed towards strengthening energy security, increasing energy efficiency, developing the financial sector, and supporting export-oriented businesses.
The head of the EBRD noted that the Latvian economy is currently experiencing a calmer growth period, influenced by the war in Ukraine.
"The dynamics of the economy are at a plateau stage," Renaud-Basso explained, adding that this is why the EBRD has recently been increasing its investment volumes in the country.
Last year, the bank's investments in Latvia reached a record 160 million euros.
Importantly, a significant portion of the investments is now related not only to traditional infrastructure but also to the so-called "green transition" — projects in sustainable energy and climate policy.
Another priority for the EBRD remains the development of the Latvian capital market, which, according to the bank, still remains relatively small and insufficiently liquid.
In addition, the bank plans to more actively support investments in private equity, innovative projects, and modernization of enterprises.
Against the backdrop of economic slowdown and geopolitical tensions, international financial institutions are increasingly betting on long-term investments in the resilience and technological development of countries in the region.
For Latvia, this means maintaining access to financing for large projects even in the context of a more cautious global market.
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