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Repse praises EBRD investment

By Editor. 04.09.2009

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Finance Minister praises EBRD investment in "Parex banka"

The European Bank for Reconstruction and Development (EBRD) becoming a "Parex banka" shareholder is an important part of the bank's stabilization strategy, said Finance Minister Einars Repse. He also stressed, this proves "Parex banka", as well as the entire Latvian financial system's, potential for development. Latvia has a high opinion of the EBRD experience in the banking sector and the planned support for Latvian businessmen, as the Finance Ministry's Communication Department representative Aleksis Jarockis told LETA.

The acquisition of 25 percent and one share in "Parex banka" by the EBRD officially concluded yesterday. The approximate value of the EBRD investment in "Parex banka" share capital is LVL 51.44 million.

Before the investment in "Parex banka", the EBRD had invested approximately EUR 450 million in various financial, corporate, energy and infrastructure projects in Latvia.




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