EBRD Bank says new strat­egy for Lithua­nia to fo­cus on en­ergy, fi­nance

The Pak Banker - - Front Page -

LON­DON: The EBRD Bank Board of Direc­tors has ap­proved a new strat­egy for Lithua­nia where the Bank has been op­er­at­ing since 1991. Lithua­nia has made sig­nif­i­cant progress in its tran­si­tion to a well-func­tion­ing mar­ket econ­omy and is ex­pected to grad­u­ate from the Bank by the end of the forth­com­ing three-year strat­egy pe­riod. The EBRD’s op­er­a­tions in Lithua­nia are fo­cused in a few re­main­ing ar­eas where there are sig­nif­i­cant re­main­ing tran­si­tion chal­lenges. The Bank sup­ports strate­gic projects: such as a gas-fired Lithua­nian power plant which par­tially re­places the closed Ig­nalina nu­clear power sta­tion, and in­vest­ments in wind farms (through its Es­to­nian in­vestee com­pany, Nelja En­er­gia). Cur­rently, the EBRD is con­sid­er­ing an in­vest­ment which would strengthen ship­ping and trade – an ex­pan­sion of con­tainer han­dling op­er­a­tions in Klaipeda port by Ter­mi­nal In­vest­ment Ltd. En­ergy will con­tinue to be the main pri­or­ity for the EBRD in Lithua­nia. The Bank will con­tinue pro­mot­ing re­new­able en­ergy and en­ergy ef­fi­ciency, par­tic­u­larly in the mu­nic­i­pal and in­dus­trial sec­tors.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.