Russian Premier, EBRD Chief discuss projects in Russia

Russian Prime Minister Mikhail Fradkov and European Bank for Reconstruction and Development (EBRD) President Jean Lemierre have discussed cooperation in implementing a range of EBRD projects in Russia.

Alexander Zharov, the premier's press secretary told reporters that among other things they had touched on issues related to the EBRD's strategy for the period till 2006.

Mr Fradkov said the EBRD had invested close on a billion euros in projects in Russia.

"This shows positive prospects for cooperation between the EBRD and Russian organisations," said Mr Fradkov.

Mr Lemierre said in a RIA Novosti interview earlier that foreign investors were willing to invest in all sectors of the Russian economy.

according to Mr Lemierre, foreign investors plan to invest in the food and agribiz sectors, the services sphere and production development.

Mr Lemierre said the bank was working nearly in all spheres of the Russian economy. As of today, it has invested $1.2 billion in Russia.

Mr Lemierre added that the bank had been investing in Russia's banking sector as well, in major, as well as regional, banks.