The EBRD has refused to invest in Russia

The Bank's management got a clear order not to make new investments in Russia in the near future

25.Jul.14 7:28 PM
By Ube Salorainen
Photo interfinance.ru

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The EBRD has refused to invest in Russia

Most members of the Board of Directors of the European Bank for reconstruction and development, including some states-members of the European Union and some countries that the European Union does not include, gave an unequivocal order to the management of the Bank of banning new investment in Russia in the nearest time. This was stated in the published report of the Bank.

The Bank will continue to manage the portfolio and will not refuse to deal with Russian partners, the Bank's presence in the country will remain. However, when the Bank intends to return to the work in the country, and what necessary conditions are essential for this are not reported.

According to the information of the Bank for the first half of the current year 19 % of all investments are in Russia, and 81 % is in the other 34 countries. This year in May some shareholders of the EBRD has recommended to the management of the Bank to adjust presence in Russia, which was the main recipient of investment amounted to 1.8 billion euros of 8.5 billion euros in total last year.

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