Source: EBRD press materials (dated 3 February 2026)
Topic: EBRD investment results in Estonia, Latvia, Lithuania for 2025
The European Bank for Reconstruction and Development (EBRD) invested a record €654 million in the Baltic states in 2025, beating the previous high of €540 million in 2024. This isn’t just a new peak in annual financing. It’s evidence that the Baltics are shifting from “green pilot projects” toward a scaled, system-level rebuild of energy security—while simultaneously strengthening the region’s capital markets to fund the next stage of growth.
1) What happened: the country breakdown—and what it signals
Infographic 1. EBRD investments in the Baltic states: €540m (2024) → €654m (2025) (+€114m, ~+21.1%). Source: EBRD.
EBRD investments in 2025 (Baltics):
- Lithuania: €339m across 17 projects (all-time high)
- Latvia: €160m across 13 projects (all-time high)
- Estonia: €155m across 14 projects (continued strong performance)
Total: €339m + €160m + €155m = €654m
Approximate shares of the total:
- Lithuania: ~51.8%
- Latvia: ~24.5%
- Estonia: ~23.7%
Lithuania’s majority share underscores how quickly its pipeline of bankable infrastructure and transition projects is maturing. Latvia’s record year suggests a step-change in investment readiness, while Estonia’s stable delivery highlights consistency: clean power, grid upgrades, and digital infrastructure remained central in 2025.
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