Russia says EBRD should be cautious in Mideast

By REUTERS
May 21, 2011 12:00

 
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ASTANA - The European Bank for Reconstruction and Development should tread carefully in expanding lending into North Africa and the Middle East, Russian Deputy Finance Minister Sergei Storchak said on Saturday.

The EBRD, created in 1991 to help fund development in the ex-communist countries of eastern and central Europe and the former Soviet Union, has agreed to expand into the Middle East and North Africa following popular revolts in the Arab world.

The expansion has been supported by the United States and Germany.

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