EBRD Will Increase Investments into Russian Economy by 20%

27.04.2009 — News

THE SVERDLOVSK OBLAST.

In 2009 the European Bank for Reconstruction and Development (EBRD) is going to invest 3 billion Euro into the Russian economy. The volume of investments will increase by 20% as compared to the previous year.

Tatyana Yemboulayeva, the Head of the Ekaterinburg EBRD office, told RusBusinessNews that the aid will be focused on supporting various financial instruments including loan facilities for large companies, small and medium businesses, and individuals.

"Not all financial institutions can afford issuing loans today. The overall world lending volumes have dropped by 40%, down to 2.6 trillion US dollars. 2009 is going to be a hard year both for bankers and for borrowers. Many financial institutions will leave the market due to the increased number of defaults. That is why we are confident that EBRD investments in Russia will make profit for the bank and help support the country's economy", Mrs. Yemboulayeva noted.