Nordics and Baltics urge continued support for Ukraine at World Bank

"The Nordic and Baltic countries strongly condemn Russia's illegal, unprovoked and unjustifiable war against Ukraine. Our support for the independence, sovereignty and territorial integrity of Ukraine is unwavering. We welcome the support given to Ukraine so far, and we especially invite you to continue supporting it through the implementation of projects in transport, energy, agriculture, housing, education, health and other sectors. Joint support for the restoration of Ukraine's economic growth contributes to Ukraine's reform efforts on the way to joining the European Union," said Ašeradens, according to a release from the Finance Ministry.

Marking the creation of the World Bank 80 years ago, the Minister of Finance called on the World Bank to be more actively involved and solve current problems, as well as to be ready for future global challenges.

"The World Bank can become an even better, bigger and more efficient multilateral development bank. We need to move from fragmented development to a unified reform program in order to work together to solve global problems," emphasized the minister.

At the development committee meeting, the Minister of Finance highlighted the Nordic and Baltic countries, which are leaders in the World Bank's financial innovations, including investing in green bonds and hybrid capital, as well as providing support to developing countries.

Meetings of IMF and WBG trustees are held annually and are attended by trustees, deputy trustees, officials of responsible institutions and other participants from both institutions. The Latvian delegation is represented on the visit by officials of the Ministry of Finance, the Bank of Latvia, the State Treasury and the Financial Intelligence Service.