On October 30th European Business Network held a networking event at the Dutch residency, where the Head of European bank for Reconstruction and Development (EBRD) Mr. Matti Hyyrynen gave a presentation which topics was “EBRD in the Baltics – energy, financial institutions and cross –border investments”.
In his speech M. Hyyrynen presented details about his workplace. According to Mr. Hyyrynen, EBRD is a AAA rated multilateral development bank, founded in 1991, now owned by 62 shareholders in 60 states, which in 2011 invested about €9.0 billion in 380 projects. At the moment EBRD has 33 offices in 29 countries, half of which are based in European region.
EBRD is a private sector focused institution with a wide product range, which includes currency, tenors and innovative financing programs. Among other methods of adding value it also helps foreign investors in challenging markets and local companies to become internationally competitive.
M. Hyyrynen also gave examples of projects in which they are involved. These are Lietuvos Elektrine and Siauliu Bankas in Lithuania, Latvenergo, Parex Banka and Graanulinves in Latvia and Estonia.
In addition, presenter told that EBRD is prepared to support Baltic companies investing in EBRD countries of operation, assist Baltic companies to enhance their participation and success in the EBRD procurement tenders and mitigate risks related to trade financing through Trade Facilitation Programme.
When asked if the bank is profitable, Mr. Hyyrynen said that its profitability is very low, however, it is not the main mission of their bank and that they prefer the status of investors in projects that are turned down by everybody else.
EBN reporter Edgaras Savickas