Russia gets additional $US 20 billion, as confidence rises

Russian companies are being encouraged to sign more joint venture deals if they want to overcome any trust problems with foreign firms. The European Bank for Reconstruction and Development raised the idea at the World Energy Forum in Rome.

Russian companies are being encouraged to sign more joint venture deals if they want to overcome any trust problems with foreign firms. The European Bank for Reconstruction and Development raised the idea at the World Energy Forum in Rome.

The Bank's Russia Director says confidence about Russia is growing by the day.

“This year in Russia we will invest more than $US 10 billion with our partners in your country. 75% of that is with Russian companies. So, these 75% will certainly help these Russian companies become stronger, more competitive and therefore invest more abroad. The purchase of assets abroad is not the only way for Russian companies to increase their presence abroad. Of course, there is a sale of equipment, the sales of goods and this refers, of course, to the branding of Russian goods,” says EBRD Russia Director, Alain Pilloux.