Russia backs the proposal to reform the board of the governors of the European Bank for Reconstruction and Development, says Deputy Finance Minister Sergey Storchak.

      At the EBRD’s 27th annual meeting of the in Istanbul, Turkey, some of the participants voiced concerns that their countries are not represented in the board of governors, said Storchak, who was a panelist at the conference.

      It will mean a change in the current composition of the board to present a broader range of views on the policies that this important international financial organization pursues.

      For more on the conference you can watch the video of the EBRD president’s speech.

Here’s the transcript of his speech.