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European Bank for Reconstruction and Development chief does not want Russia’s withdrawal

April 19, 2017, 19:51 UTC+3 WASHINGTON
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WASHINGTON, April 19. /TASS/. President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti does not want Russia’s complete withdrawal from this institution.

"I hope not. That's my personal hope. But in the end it's a decision really for Russia and the other shareholders. I'm afraid I'm sort of a passenger on this train if you like," Chakrabarti said responding to a question from TASS.

Russia is a highly valuable member of the EBRD, the president said.

The EBRD board of directors neither approves nor takes for consideration new projects for Russia since July 2014, Chakrabarti said. The next check of this approach is expected in mid-March in Cyprus, he said.

The president did not give any exact comment on the timeline of EBRD’s portfolio of Russian projects declining to zero if the existing approach does not change. This is a market issue and portfolio contraction cannot be predicted, he added.

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