From 5 to 7 March, the 8th International Humanistic Economics Forum, Innovative Economy in a Time of Geopolitical Change, took place at the Latvian Academy of Sciences in Riga, bringing together academics, diplomats, entrepreneurs, and representatives of public policy and government institutions from the United States, across Europe, India, Japan, and Central Asia.

Over three days, participants explored opportunities for economic development at a time when the business environment is being increasingly shaped by geopolitical uncertainty, rapid technological change, and new models of international cooperation. Particular attention was given to the role of innovation, the strengthening of international cooperation, and the need to build closer ties between academia, business, and policymakers.

“For a small country with a limited domestic market, exports are not a choice — they are a necessity. Latvia’s economic growth will depend on how successfully we can develop knowledge-based, internationally competitive businesses and foster closer cooperation between academia and entrepreneurship. Special thanks to INDUSTRA Bank for supporting the Forum’s organisation to such a high standard and for understanding not only entrepreneurs, but also researchers who create added value for business,” says Dr Ņina Linde, Director of the Institute of Economics at the Latvian Academy of Sciences.

Industra Bank participated in the forum as a partner, highlighting the importance of dialogue across sectors in promoting Latvia’s economic growth and strengthening the competitiveness of Latvian businesses in international markets.

“At a time when economic development is increasingly influenced by geopolitical processes and technological change, cooperation between academia, business, and policymakers becomes particularly important. Meetings such as this help deepen our understanding of global trends while also identifying practical ways to strengthen the competitiveness of Latvian businesses and develop new avenues for cooperation in international markets,” says Anna Svarena, Head of Customer Service at Industra Bank.

Forum participants emphasised that sustainable economic growth in both Europe and Latvia will be closely linked to innovation, the development of export-capable businesses, and international cooperation. At the same time, discussion platforms of this kind help create new connections and partnerships that may, in time, develop into concrete investment projects and business initiatives.

About Industra Bank
Industra Bank is a locally owned bank established by local entrepreneurs, with a clear focus on financing Latvian small and medium-sized enterprises and contributing to the development of the Latvian economy.

In 2025, Industra Bank delivered strong growth, with its loan portfolio increasing by 62% and total lending exceeding EUR 170 million by the end of the year. Customer deposits at year-end were close to EUR 300 million.

Industra Bank is the only locally owned bank in Latvia to have been independently assessed by a global rating agency. In February 2026, Moody’s Ratings assigned Industra Bank a Ba2 long-term deposit rating and a Ba3 senior unsecured bond rating, with a stable outlook.

Industra Bank serves nearly 20,000 customers, providing services both in person — at customer service centres in Riga, Daugavpils, Liepāja, Ventspils, and Jelgava — and remotely, regardless of the customer’s location.

More information is available at: https://industra.finance

For further information:
Ieva Zauere
Industra Bank AS
Head of Marketing and Communications
+371 29485726
ieva.zauere(abols)industra.finance