The bank’s board of governors approved the adoption of tough measures against Moscow and Minsk after the invasion of Ukraine.
The Board of Governors of the European Bank for Reconstruction and Development (EBRD) has officially stopped Russia and Belarus access to their resources. Artem Shevalev, a member of the bank’s board of directors from Ukraine, announced this on April 4 on Facebook.
“The Board of Governors has officially approved the application of Article 8.3 of the EBRD Charter to prevent Russia and Belarus from accessing the resources of the European Bank for Reconstruction and Development. An absolute majority of the bank’s shareholder countries , which represents 94.85% of the votes in the bank’s capital, voted for this decision, ”he stressed.
Shevalev noted that for the first time in EBRD history, managers used such a measure.
As the bank’s press service clarified, the decision means that in either of the countries there could be new funding for projects or technical cooperation activities.
In addition, the EBRD enjoys all rights to suspend or cancel additional disbursements on existing projects.
Recall, March 28, it became known that the European Bank for Reconstruction and Development was closing offices in Moscow and Minsk.
Earlier, the EBRD said that if the war with Russia ends in the next two months, Ukraine’s economy will grow sharply in 2023.
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Source: korrespondent
