The General Assembly of the European Long-Term Investors’ Association (ELTI) meeting in Prague this week called for greater cooperation between Europe’s long-term financing institutions to reinforce support for infrastructure, innovation and SME investment, needed for economic recovery, sustainable growth and job creation across the EU.

“Enhanced cooperation amongst Europe’s long-term investors is essential to enabling more efficient use of scarce public resources and ensuring investment crucial to ensuring Europe’s competiveness. This year’s ELTI annual meeting allowed valuable experience from across Europe to be shared that will help ELTI members to unlock much needed additional private sector support for new projects.” said Werner Hoyer, European Investment Bank President and current ELTI President.

Senior representatives of ELTI member organisations used the occasion to share experience and outline successful ways of making better use of scarce public resources to stimulate economic growth and employment across Europe.

Hosted by the Czech-Moravian Guarantee and Development Bank (CMZRB), this year’s annual meeting gathered ELTI members representing national promotional banks in a number of EU member states as well as international and regional financial institutions. All institutions share a common objective of fostering sustainable long-term investment in the European real economy.

The General Assembly of ELTI elected as its new Vice-President Vladimir Kristijan, President of the Croatian Bank for Reconstruction and Development (HBOR) and also admitted the Nordic Investment Bank (NIB) and the Belgian SFPI-FPIM as new members.