Russia
The Russian Federation is a founder and the largest shareholder of the Bank ($1 billion or two thirds of the charter capital). 45% of all projects being considered by the Bank is to be implemented in Russia.
Due to the global economic crisis, economic growth in Russia slowed down from 8.1% in 2007 to 5.6% in 2008. In 2009, GDP growth in Russia is expected to shrink by 2—3%. In order to mitigate the effect of the crisis, the Russian Government is implementing an Anti-crisis Programme which has seven foci: discharging public obligations to the population in full; preserving the industrial and technology potential; supporting domestic demand as a basis for recovery from the crisis; modernizing the economy as a key long-term goal; eliminating administrative barriers to business and fighting corruption; creating a robust national financial system; responsible macroeconomic policy, well-balanced budgetary policy, and supporting the rouble.
Investing in Russia, as well as in Kazakhstan, is a priority for the EDB. The Bank strives to adapt its investment and lending business to the anti-crisis policy of the Russian Government. In this context, the Bank focuses on financing investment projects with the potential to address the following tasks: supporting inter-governmental projects and projects with a pronounced integration component (i.e. boosting mutual trade, investments and production co-operation by the Bank’s member states); achieving a maximum multiplicative effect (securing an increase in GDP and employment in other sectors indirectly); and supporting efficient manufacture based on new technology.
In its investment activity, the Bank supports the development of trade and mutual investments of Russia and other member states.