Zee Beam News

08/06/2005 (15:09) RZD News - Investment in Russian projects by the European Bank for Reconstruction and Development (EBRD) now stands at around 4 billion euros, representing roughly 25% of the entire EBRD investment portfolio for 27 countries, a bank official has announced. On average, the bank invests 1.25 billion euros in Russian projects annually, the new chief of the EBRD's Moscow office Victor Pastor said at the 'Corporate Finances in Russia' conference on Wednesday. EBRD investment came to about $1.6 billion last year, given exchange rate fluctuation, so Russia alone accounts for about a quarter of EBRD business, reports Interfax. The EBRD is a presence in virtually all economic sectors - from financial institutions to transportation to industry, Pastor said. The bank now has 250 projects in 41 of Russia's 89 regions, "not only in Moscow," he said.