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EBRD does not plan to resume funding for Russian projects in 2017 — official

October 24, 2016, 12:05 UTC+3
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MOSCOW, October 24. /TASS/. The European Bank for Reconstruction and Development (EBRD) does not plan to renew funding for Russian projects in 2017 that has been suspended in 2014, Deputy Finance Minister Sergey Storchak told reporters on Monday.

"No, they do not plan doing it. EBRD has adopted a financial plan that does not include our projects," he said.

It was reported earlier the European Bank for Reconstruction and Development would not cease operations in Russia even as sanctions over the conflict in Ukraine leave new financing on hold.

EBRD invested 1.8 bln euro in Russia in 2013, the most of any country that year, and about 25 billion euros between 1991 and 2013.

Russia has been a member of EBRD since 1992. Until recently the country accounted for about a third of the total volume of the bank's operations. In total in 1992-2014, 800 projects were financed in Russia.

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