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EBRD in Lithuania to focus on energy security, competitiveness

Xinhua, November 13, 2015 Adjust font size:

Lithuanian Finance Minister Rimantas Sadzius held talks with Betsy Nelson, vice president and chief risk officer of the European Bank for Reconstruction and Development (EBRD), on Thursday to discuss the priorities of the bank's strategy in Lithuania.

"The bank plans to promote Lithuania's energy security by expanding the use of renewable energy sources and increase the competitiveness and the value added of Lithuanian entities using high level knowledge and the latest technologies," said the Lithuanian ministry in a press release.

Both officials also touched upon the country's economic situation and the prospects of cooperation.

The meeting was attended by Sylvia Gansser-Potts, EBRD's head for Central, South Eastern European and Baltic countries.

The EBRD, established in 1990, works to promote its member countries' adopting models of open and pluralistic economy. The institution is present in 35 countries.

Lithuania became an EBRD member in 1992. Since then, the institution has funded 77 projects and has invested 647 million euros (968 million U.S. dollars) in various projects. Endit