EBRD to increase ruble financing of programs in Russia

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STRASBOURG, June 21 (RIA Novosti) - The European Bank for Reconstruction and Development intends to increase ruble financing of programs in Russia, EBRD President Jean Lemierre told RIA Novosti today.

He said the bank had started ruble operations on its projects in Russia this year and that the municipal sphere and small and medium-sized business support programs were key areas.

Lemierre also said financial improvements in Russia had allowed the EBRD to begin ruble operations. He thanked the Russian leadership for the economic reforms they had conducted

The EBRD president said he believed further ruble financing was very important.

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