Date: 5 months ago   Category: Economy

Oreshkin: the refusal of the EBRD of the Russian projects will worsen situation of the bank - RIA Novosti, 5/9/2017


Minister of Economic Development of the Russian Federation Maxim Oreshkin. Archival photo
NICOSIA (Cyprus), on May 9 – RIA Novosti. The termination of financing of the Russian projects worsens a financial position of the European Bank for Reconstruction and Development (EBRD) and breaks a number of standards of the agreement on establishment of bank that forces Russia to look for the legal solution of a situation, is said in the statement of the Minister of Economic Development Maxim Oreshkin at an annual meeting of board of governors ЕБРР.© Flickr/European Bank for Reconstruction and Developmentebrr doesn't consider a question of an exit of Russia from among shareholders bankaty not less, Russia is open for dialogue on search of a legitimate way out, Oreshkin notes. Following the results of 2016 the bank has the worst indicator for five years of the realized profit — 642 million euros, the minister has specified. The total amount of the income of bank in 2016 has made 1,699 billion euros, without the Russian operations — 1,202 billion euros. The specified level of profitability has no steady character as a third of the income is created in Russia. Lack of operations in Russia in the next years will lead to zeroing of an indicator of "discontinued operations" (the suspended operations), the head МЭР.© RIA Novosti has warned. Alexey Filippovv the EBRD consider loss impossibility to finance new projects in Russia" Besides drawing a serious loss to a financial condition of bank implementation of "the political guide" (about the termination of new investments into the Russian Federation — an edition) breaks a complex of precepts of law, starting with the agreement on EBRD institution … In the circumstances, having exhausted other solutions of a problem, and for protection of interests of the Russian Federation as shareholder and the country of operations of the EBRD the Russian side is forced to make efforts on search of the legal solution of current situation" — the Minister of Economic Development has declared. In particular, the refusal of investments into the Russian Federation violates the agreement concerning conditions and an order of suspension or other change of access for the member of bank to his resources. Decision-making, concerning this article, is within the exclusive competence of board of governors and can't be delegated to the board of directors, the Russian representative notes. Besides, it breaks need of the EBRD to use economic and financial bank принципы.© RIA Novosti. Vladimir Astapkovichpereyti in фотобанкВ the EBRD to Ukraine have advised to reorganize the exchange market by an example of Russia" In fact it is discrimination on a national sign which is inadmissible in activity of multilateral institute of development. Similar approach involves danger further randomly to treat the charter of bank and to deprive of his members of their joint-stock rights without account or contrary to authorized tasks and the principles of the EBRD. Lifting this subject, we point not only to illegality of the decisions made on Russia. We care for destiny of the bank" — Oreshkin has declared. Thus, the most profitable loan portfolio is as a result reduced, the mandate of bank regarding assistance of transition to the market isn't carried out and his operational indicators worsen that can have serious and far-reaching consequences, I have added

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