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Minister Ulyukayev to attend EBRD Board of Directors session in London

December 11, 2013, 9:49 UTC+3 LONDON
Russian Minister of Economic Development will also deliver a report at London School of Economics and Political Science
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Russian Minister of Economic Development Alexei Ulyukayev

Russian Minister of Economic Development Alexei Ulyukayev

© ITAR-TASS/Yekaterina Shtukina

LONDON, December 11, 7:55 /ITAR-TASS/. Russian Minister of Economic Development Alexei Ulyukayev will make a working visit to the British capital on Wednesday. He will attend a session of the Board of Directors of the European Bank for Reconstruction and Development (EBRD), meet with EBRD President Suma Chakrabarti and members of the business community, as well as deliver a report at the London School of Economics and Political Science (LSE).

Ulyukayev arrives here mainly for the purpose of attending the EBRD Board of Directors meeting and holding a separate meeting with the EBRD President, a spokesman for the London-based financial institution told Itar-Tass. He said the Bank would not issue a statement for the press.

A member of the Minister's staff specified, “Ulyukayev — Governor representing Russia at the EBRD — will meet with Sir Chakrabarti and discuss the economic situation in the world".

Russian is the major country by the scope of investments of this international financial institution. As of now, EBRD's members are 64 countries, including Russia, and two international organizations. Since 1991, EBRD investments in the Russian economy have exceeded €23 billion ($31.6 billion).

In Chakrabarti's estimate, Russia will remain the major country for the Bank's investments for some time ahead. In 2012, Russia accounted for some 30% of the Bank's operations. The Bank provided Russian companies with €2.58 billion worth of credits from its own resources.

During the visit, the Russian minister will have a meeting with the captains of the British business, his staff member pointed out.

The meeting will be held in the format of a business luncheon where about 40 executives of leading British companies and officials of ministries and departments will take part. Among them will be Michael Fallon, UK Minister of State for Energy and Business Affairs, Prime Minister's personal secretary Simon Keith, representatives of the UK Department of Trade and Investments, the Russian-British Chamber of Commerce, companies Shell, EasyJet, Cisco UK and Ireland, VTB Capital Bank, and the Independent Treasury Economic Model (Ernst & Young) ITEM club.

On Wednesday afternoon the Russian Minister will address the LSE students and experts in a report on prospects for the development of the Russian economy, organizers said.

This London-based authoritative institution of higher education maintains extensive contacts with business circles of the London City and cooperates with the best specialists, including Nobel Prize Winners, in education and scientific work. This educational establishment is attended by Russian students. A Russian Business Week (RBW) is held at LSE every year. In March this year, this popular forum was held for a sixth time already.

The RBW organizers say its purpose is to improve the business image of Russia in the world, and furnish platforms for constructive discussion on the problems of business and on challenges of the future. It is much to the credit of the RBW, in the estimate of organizers, that it provides platforms for the sharing of knowledge and experience between the foremost Russian and foreign specialists. The RBW also makes a contribution to efforts to attract young and talented professionals with Western education for work in Russia.

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