Lithuania’s Finance Minister: NIB will be instrumental for green recovery and digital transformation

“NIB plays an important part in helping member countries to tackle long term challenges such as climate change, sustainable growth, and technological innovation. The Bank’s relevance will only increase in the years to come as governments are focusing largely on green recovery,” says Gintarė Skaistė, Minister of Finance of Lithuania and Chair of NIB’s Board of Governors.

The Board of Governors of NIB held its annual meeting on 26 March. Gintarė Skaistė, Minister of Finance of Lithuania and Chair of the Board, gave her comments on the Covid-19 impact on the region, the Bank’s coronavirus response and the outlook for the future in a video interview.

“The Covid-19 rearranged priorities for many governments, but the notion to ‘build back better’ or ‘pursue sustainable recovery’ has been prominent almost from the beginning of the pandemic. Indeed, we should see the current shock episode as an opportunity to initiate long-term structural changes, including through investments into innovation, green transition and digitalisation.”

“The pandemic also gave a boost and highlighted the importance of digital technologies, as digital solutions were necessary to maintain business continuity. Some of this technological advancement will outlast the pandemic and businesses may be driven to further accelerate their digital transformation to improve performance and efficiency. NIB with its sectoral expertise will be instrumental in helping to guide companies and countries through this transformation.

Watch the interview: