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EIB to support Latvia's smaller-scale projects

Staff writer |
European Investment Bank (EIB) President Werner Hoyer during an onging official visit to Latvia announced the plans of EIB to participate in smaller-scale investment projects in Latvia, LETA reported.

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Werner Hoyer held a meeting with Latvian President Andris Berzins. Officials discussed EIB's achievements in Latvia, goals of Latvia's forthcoming presidency of the Council of the European Union (EU) with regard to Eastern Partnership, as well as the situation in Ukraine.

Berzins praised the decision of EIB to participate in Latvia's smaller-scale investment projects, which, the president said, could contribute to achieving efficient results.

During discussion on Latvia's vision about Eastern Partnership, Berzins noted that Eastern Partnership requires more attention from the European Union.

Hoyer stated that Latvian presidency in the EU Council must serve as a momentum to consolidate eastern relations in the long-term perspective.

The EIB delegation also met with Latvia's Minister of Finance Andris Vilks. Hoyer and members of the EIB Management Committee discussed current economic situation in Latvia and expressed readiness to support a greater number of projects, particularly those that foster the development of innovations and growth in Latvia.

Vilks said Latvia's cooperation with EIB started in 1997, when EIB invested several billion euros in a large number of important projects in Latvia related to such spheres as transport, energy, telecommunications, and infrastructure development.

Vilks noted that Latvia is interested in further cooperation with EIB and that support of small- and medium- sized enterprises is vital.

The sides agreed that Eastern Partnership countries should further concentrate on foreign markets.

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