BAKU, Azerbaijan, April 7. The European Investment Bank (EIB) Group has opened a new office in Riga to strengthen support for strategic investments and sustainable development in Latvia, Trend reports.
The office will focus on key sectors, including climate action, digitalization, housing, and security.
The EIB Group, which includes the European Investment Fund (EIF), aims to enhance cooperation with public and private sector partners in Latvia, including small and medium-sized enterprises. The new office is expected to improve access to financing and support local economic priorities.
The EIB has provided more than 4 billion euros in financing to Latvia since 1994. Recent operations include a 200 million euro loan to Latvenergo for upgrading the electricity distribution network, a 25 million euro loan to the University of Latvia for campus development, and 70 million euros to Rīgas ūdens for improving the city’s water supply system. The EIF has also invested in Latvian funds such as Merito Partners and SG Capital.
Future priorities include renewable energy projects, infrastructure development, and support for innovation and startups. The EIB Group has also approved new measures to support security and defence projects across Europe.
The Riga office will be led by Paulina Brzezicka and will serve as a base for closer collaboration with Latvian stakeholders. A new EIB office is also set to open in Tallinn, Estonia.