EBRD is unable to approve new investments to Russia
The European Bank for Reconstruction and Development (EBRD) announced on its inability to realize new investment inflows to the Russian economy in the nearest future, declared the press-service of the Bank on July 23.
A majority of the Board of Directors of the EBRD, including all EU member states and several non-EU shareholders, have given clear guidance to the EBRD management that, for the time being, they will be unable to approve new investment projects in the Russian Federation, according to the announcement.
Their guidance follows a declaration by last week's European Council which called on the EU member states to coordinate their positions within the Bank's Board. The EBRD management will be guided by this in its operational approach in Russia.
The Bank will continue to manage its portfolio of existing projects and client relationships in Russia. The Bank will also continue to maintain its physical presence in the country.
You should be authorized to post comment
Russia planted spring grains throughout 26.1 mln ha — Ministry of Agriculture
May 27, 09:35
Russia: export duty on wheat is the effective tool of the government - Ministry of Agriculture
May 26, 11:30
In 2016, Russia to harvest 106 mln tonnes of grains – A.Tkachev
May 26, 09:55
In January-March, Russia exported 7.8 mln tonnes of cereal crops - Rosstat
May 26, 09:20
In May, Russia to export 1.8 mln tonnes of grains - Rusagrotrans
May 25, 12:40
Since the beginning of 2016, Russia reduced sunflower oil production – Rosstat
May 24, 14:10
Russia: government analysts proposed to cancel the export duties on wheat
May 24, 11:15