Refugees and Asylum 31100

The European Bank for Reconstruction and Development (EBRD) this week reaffirmed its continued support for Russia and signed three projects in Moscow and one in St Petersburg.

The President of the Bank, Mr Jean Lemierre, speaking at the signing ceremony said the three deals reflected some of the EBRD's key functions in Russia: to lend to creditworthy businesses whose activities contribute to the development of the Russian economy, and to help the growth of small and medium-sized enterprises, which are the key to any successful economy. Mr Lemierre also said that the economic reforms announced by the country's new administration were a bold step in the right direction. But he warned that ultimate success or failure of these measures would hinge on how they were implemented.

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