EBRD supports further restrictions on funding of projects in Russia, — Finance Minister

Source : 112 Ukraine

Restrictions were imposed in 2014
17:24, 10 May 2017


European Bank for Reconstruction and Development (EBRD) supported constraints on bank’s projects in Russia. This was reported by Oleksandr Danyliuk, the Minister of Finance of Ukraine, on his Facebook page.

Head of Finance Ministry explained that during the meeting of EBRD governing board Russia’s representatives tried to lift the restriction on projects financing in Russia, which were introduced in 2014.

Russian representatives argued that these constraints affect the development of both Russia’s economy and the results of bank’s work, while Finance Minister told in his speech that the situation, when one EBRD member resorts to military aggression against the other party, is unacceptable. 

Most of the EBRD shareholders supported the extension of restrictions on EBRD projects in Russia. Russia also called such decision discrimination.

Related: EBRD intends to increase investment in Ukrainian projects to 1 billion euros in 2017

Related: EBRD to allocate €8 million for trolleybus park renovation in Kremenchuk

Related: If World Bank or EBRD joined the capitalization of "Privatbank", it would be great, - Groysman

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