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RBC - European Bank for Reconstruction and Development will invest $1.2-1.3 in Russia in 2005
27.10.2004 00:00

This has been reported today by Jean Lemiere, the EBRD president. According to him, investments into the Russian economy will total $1 bln by the end of 2004. In his speech at the Investments into the Future of Russia conference, the EBRD president assessed the macroeconomic situation in Russia as stable and claimed that the goal of GDP doubling is quite attainable. High prices for energy products and stable economic and political situation in recent years contribute to it.
       After the September sitting of the Advisory Council on Foreign Investments Mr. Lemiere pointed that Russia is mainly developing its oil and gas sectors, therefore it should especially emphasize the matter of diversification of the economy. Yet, Mr. Lemiere says there is a growing number of projects involving foreign investors in agriculture, banking and car industry in various regions of Russia. He also advised Russia to pay more attention to the development of the transport infrastructure, in particular ports and roads, using private funds


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