Lithuanian Finance Minister Vilius Šapoka was elected vice-chairman of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) at the board's annual meeting in Sarajevo on Wednesday.

“Vilius Šapoka, as vice-chairman of the EBRD Board of Governors, will take part in addressing issues concerning the preparation of the new EBRD Strategy for 2021–2025 and will join the selection process of candidates in the EBRD Presidential elections to be held next year,” the Finance Ministry said in a press release.

Representatives of more than 60 countries take part in the EBRD annual meeting in the capital of Bosnia and Herzegovina.

The EBRD Board of Governors is the bank's highest governing body. Šapoka is the EBRD governor from Lithuania.

The EBRD, an international financial institution founded in 1991, is owned by 67 countries from five continents, as well as the European Union and the European Investment Bank.