LONDON, March 5 The European Bank for
Reconstruction and Development said on Wednesday that it was
continuing its activities in Russia, dousing talk it could be
ordered out by major Western powers as punishment for Moscow's
actions in Ukraine.
"We are continuing to invest in Russia," the EBRD's head of
communications Jonathan Charles told Reuters.
Analysts have speculated that a cut in EBRD funding in
Russia could be ordered if the United States and Europe had
opted to impose stringent sanctions on Russia after it took
control of Ukraine's Crimea peninsula.
Russia is where the EBRD spends the biggest proportion of
its money. Of the 8.5 billion euros it invested last year, 1.8
billion went to Russian projects, bringing the overall amount it
has at stake in the country to 23.7 billion euros.
According to its latest figures, 783 projects are up and
running. Industry, commerce and agri-business schemes make up
just under half the total, energy and infrastructure share about
30 percent and financial sector loans make up the rest.
(Reporting by Marc Jones)