Russia to participate in international banks

Russian Prime Minister Mikhail Fradkov commissioned the Economy and Finance Ministries to work out a strategy of Russia's participation in capitals and projects of international regional banks. This decision was made at a government meeting today. This concerns participation in the Asian Development Bank, the Inter-American Development Bank, the Black Sea Trade and Development Bank and the European Investment Bank. The strategy is supposed to be worked out by August 1, 2004.

Russian Finance Minister Alexey Kudrin declared at the meeting that the level of Russia's engagement in world investment projects testified to the necessity of the country's participation in these banks.