OREANDA-NEWS. On March 18, 2009 following the meeting with the Prime Minister of the Republic of Latvia Valdis Dombrovskis, the First Vice President of European Bank of Reconstruction and Development (EBRD) Varel Freeman announced that EBRD is willing to obtain minority shares of Parex banka investing 100 million Euro (70 million lats), reported the press-centre of Parex banka.

V.Freeman underlined that the final decision on the acquisition will be made within the coming weeks. V.Freeman acknowledged that the decision on the support to Parex banka was made since the Bank is stable and it has a very proficient management. EBRD will also prepare proposals on the further strategy and operations of the Bank.

EBRD has a great experience in the restructuring of the banking business. The entering of EBRD into a bank is being considered as a positive signal for vitality and development potential of the institution. As it was previously announced, in January and February 2009 EBRD performed a complete due diligence of Parex banka.