"The reason why we were not have any new projects in Russia is that the guidance given to us by shareholders until end of July 2014, and so we can only really reengage in Russia with new projects if the shareholders change the guidance," Chakrabarti told RIA Novosti.
According to the bank data's, Turkey became a leader among EBRD funding recipients in 2015, receiving 1.9 billion euros ($2.1 billion) compared to 1.4 billion euros a year earlier. Ukraine ranked second, securing about 1 billion euros in investments.
A significant increase in investments was noted in Kazakhstan, with 708 million euros in 2015 up from 576 million euros in 2014.
The European Bank for Reconstruction and Development was established in 1991. The EBRD's shareholders comprise 64 countries, the European Union and the European Investment Bank. The bank operates in more than 30 countries from Central and Eastern Europe to Central Asia, as well as in the Southern and Eastern Mediterranean.
