9 June 2008
The European Bank for Reconstruction and Development (EBRD) will earmark 40% of its Russian lending to infrastructure.
Europe’s development bank announced plans to allocate 40% of its Russian lending toward infrastructural projects. In 2008, the European Bank for Reconstruction and Development (EBRD) is expected to lend approximately $1.4 billion to develop Russia’s infrastructure, particularly in the transportation and energy sectors. The focus complements the government’s intended $1 trillion investment in its infrastructural program by 2020 and aligns with EBRD’s Russian operational priorities and strategic directions.
Sources
EBRD Targets 40% of Russian Lending to Infrastructure, by Paul Abelsky, June 8, 2008 (Bloomberg website)
The Questions Facing Europe's Development Bank, by Jean Lemierre, Gallup, June 9, 2008 (Europe’s World website)
EBRD Russia Strategy Overview (EBRD website)
Additional Resources
Russia Country Update #1 (BIC website)