Lithuania's Ministry of Finance announced that Finance Minister Kristupas Vaitiekunas will travel to Luxembourg on 13 January to meet senior leaders of the European Investment Bank (EIB), European Investment Fund (EIF) and European Stability Mechanism (ESM), alongside Luxembourg’s Minister of Finance, with a focus on strengthening the National Development Bank ILTE. The discussions are set to centre on increasing international financial institutions’ involvement in ILTE’s governance, transparency and risk management to build confidence and support the attraction of private and international funding. During the visit, cooperation memoranda will be signed with the EIF and ESM on capacity building for ILTE, and opportunities to contribute to the ILTE Hub and other joint projects will be discussed with EIB President Nadia Calviño; meetings are also planned with EIF Chief Executive Marjut Falkstedt, ESM Managing Director Pierre Gramegna and Luxembourg Finance Minister Gilles Roth. The ministry also outlined an ambition for ILTE to operate in line with international best practices, including a plan for ILTE to be able to issue bonds independently on international markets in 2027 after obtaining ratings from international credit rating agencies.

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