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EBRD not to Launch New Projects in Russia

EBRD not to Launch New Projects in Russia

The European Bank for Reconstruction and Development (EBRD) does not stop working in Russia at this point, however, is not considering the launch of new projects. According to EBRD President Suma Chakrabarti , the EBRD does not consider the launch of new projects due to country’s difficult economic situation, however, will not stop the ongoing projects.

“We’ve got a guide from our shareholders not to consider new projects and, therefore, we’ll take into consideration their views,” – said Chakrabarti. EBRD President says the bank will decide whether to start new projects depending on how the situation will change. In his words, the reason is the depreciation of the ruble and not other things. “Various factors have led to the ruble devaluation in Russia, including sanctions, – Chakrabarti explains.