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  Tuesday, August 16, 2022
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The European Bank for Reconstruction and Development invested $2 million in the development of small and medium-sized business in Russia in 2004
EBRD President Jean Lemierre said it at the opening ceremony of the International Economic Forum in St. Petersburg. Lemierre, a cochairman of the forum's organizing committee also said that the bank extended its possibilities for granting loans, including ruble credits. In his opinion, the macroeconomic situation in Russia is stable. Russia is moving forward but it should move faster to ensure development not only by means of natural resources, he said. The Russian government is currently considering the new level of growth on the basis of innovations, Lemierre added. We follow the development of Russia's economy and hail the intention to diversify it, he said. It means not only the increase of financial flows but also a new approach to managing private and stock capitals. According to the EBRD president, Russia has a vast investment potential. We see the development of partnership between Russian and foreign businessmen, he said. The number of foreign investors is growing.
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