Kudrin to discuss restoration of EBRD's Russian operations with bank's board of directors at the start of July
MOSCOW. June 7 (Interfax) - Russian Deputy Prime Minsiter and Finance Minister Alexei Kudrin will meet with the board of directors of the European Bank for Reconstruction and Development (EBRD) at the start of July in order to discuss restoring the bank's now low activity in Russia, the Kudrin's deputy and the bank's deputy manager from Russia, Sergei Storchak, told journalists on Tuesday.
He said that the meeting will take place during the first week of July in London.
"We will work on solving the problems that have appeared," Storchak said.
He said replacing the director from Russia at the EBRD had an impact on the bank's Russian operations. At the end last year, the bank's director from Russia, Yelena Kotova, was removed only to a corruption investigation.
"She was recalled at the end of last year. Therefore, the preparation of documents [for providing loans the Russian economy] has been delayed. Also, the bank is doing its own investigation," Storchak said.
"The situation with the director from Russia had an effect on plans to provide loans to Russian companies," he said.
Storchak said that in spite of the outcome of the Kotova situation, Russia would like the EBRD to take part in financing Russian project. The country wants to raise the share of financing for investment projects and reduce the share of lending for export and import operations.