G. Skaistė: we see a greater role of the European Investment Bank in financing EU defense

The meetings will focus on the discussion of the economic situation of the euro zone, the deepening of the EU capital markets, issues of European competitiveness and the discussion of the strategic directions of the European Investment Bank (EIB).

“In the current geopolitical context, we see three essential priorities for EIB investments. First, the Bank must continue to be actively involved in financing Ukraine’s reconstruction and resilience building projects.

Second, the EIB must contribute more to the strengthening of the EU’s defense capabilities – for this, it is necessary to expand the list of sectors to be financed in the field of defense and security. Thirdly, the EIB must continue to act as the EU’s climate bank and finance green transition projects – which also means increasing the EU’s energy independence,” emphasized Finance Minister G. Skaistė.

Ministers will discuss the next steps in creating a common EU capital market, which would provide more financing alternatives for European businesses and investment and saving opportunities for people. Attention will also be paid to the topic of financial literacy.

“Next to the Banking Union, the EU Capital Markets Union is a strategically important project for strengthening the growth potential, resilience and competitiveness of the European economy. A developed common capital market would open up more financing alternatives under favorable conditions for Lithuanian businesses – from small to large companies.

Meanwhile, residents would have wider opportunities to invest and employ savings. A deep capital market would also help to mobilize additional resources for the green transition and other policy priorities”, says G. Skaistė.

During the ECOFIN meeting, Mario Dragi will present the prepared report on European competitiveness, and there will be an exchange of views between the ministers. In addition, the European Commission will present the latest macroeconomic forecasts.