EBRD to invest up to US$1.5bn in Russian SMEs


The European Bank for Reconstruction and Development (EBRD) is ready to invest up to US$1.5bn in Russian small- and medium-sized enterprises (SMEs).

Opora Rossii (Russia's Support) public organisation reported, that EBRD president Jean Lemierre met Opora Rossii president Sergey Borisov on the sidelines of the investment conference in Stuttgart.

Lemierre expressed the readiness of the bank to invest up to US$15bn to spur the development of Russian SMEs. He did not elaborate on terms of other details of possible investments. Earlier representatives of the bank insisted on investments in Russia amounting to US$1bn.

Source:RosBusinessConsulting



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Posted on Nov 1, 2004
Region: Russia