Practice Leader for DuckerFrontier’s Europe practice, Mark McNamee was recently quoted in the Financial Observer’s latest coverage on the EBRD’s operations in Russia and the surrounding countries.
The EBRD has followed the status quo for the last several years, despite a freeze on lending in Russia and changes to the Ukraine peace settlement. However, a new EBRD president will be elected during the EBRD’s 29th Annual Meeting and Business Forum in May 2020, which may change the bank’s attitude toward spending in Russia.
“A resumption of EBRD lending would require a political re-orientation of the Russian government and marked genuine improvement in relations with the West, but that’s not expected in the next several years, or at least through the end of [President Vladimir] Putin’s current term.”
The EBRD faces growing competition with local banks, putting pressure on the EBRD to reevaluate its current investments.
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