Home  Journals  Finance and Credit  41(617) - 2014 November

The prospects for expanding of Russian participation in the activities of regional development banks

Available online: 3 November 2014

Subject Heading: ISSUES ON ECONOMICS

JEL Classification: 

Pages: 36-42

The article discusses the prospects of expanding Russian participation in the activities of regional development banks. The authors identify possible economic benefits of Russia after joining the Inter-American, Asian and African Development banks. The article provides a brief examination of the current negotiations about Russia's accession to these international organizations. The most successful one is the cooperation of Russia with the European Bank for Reconstruction and Development (EBRD). It is not surprising: the Bank has the leading position among the other international financial organizations in such important for the Russian Federation areas as corporate governance, SME development, municipal finance and others. The EBRD loans have increased the degree of confidence in Russia on the part of foreign financial institutions and private foreign investors. Now, there are more favorable conditions for investment in the domestic economy. Technical assistance of the EBRD has proved to be effective as a tool to support the reforms. Russia's participation in the activities of other regional development banks still produces weak economic effect on the domestic economy. The authors examine the reasons of the situation. One of the perspective areas of Russia's foreign policy in terms of economic cooperation with developing countries can be Russia's involvement in the Asian, African and Inter-American Development Banks. The authors consider in detail the conditions and possibilities for this involvement. However, building relationships in the new format is a slow and difficult process. The authors make an attempt to explain the difficulties of the process and the factors contributing to its development. The study identifies the tasks, the solution of which will promote Russia's cooperation with international financial organizations.

Keywords: regional development bank, European Bank for Reconstruction and Development, Inter-American Development Bank, Asian Development Bank, African Development Bank, Asia-Pacific region, economic cooperation

References:

1. Aliev B.Kh., Rabadanova D.A. Otsenka sostoyaniya bankovskoi sistemy RD i ee rol' v reshenii zadach ekonomicheskogo razvitiya [Assessing the state of the banking system of the Republic of Dagestan and its role in solving the problems of economic development]. Finansy i kredit – Finance and credit, 2010, no. 32, pp.16–23.
2. Aliev G.Kh., Bammatov D.A. [The Interests and Prospects of Russia's Participation in the Regional Development Banks Activity]. Upravlenie ekonomicheskimi sistemami, 2013, no. 8. (In Russ.) Available at: Link.
3. EBRR vydelit RF 500 mln evro na kreditovanie malogo i srednego biznesa [EBRD will allocate €500 million to Russia for small and medium business lending]. Available at: Link. (In Russ.)
4. EBRR otkryl novuyu programmu podderzhki malogo biznesa [The EBRD started a new program of support to small business]. Available at: Link. (In Russ.)
5. Evropeiskii bank rekonstruktsii i razvitiya. Godovoi otchet za 2013 g.: godovoi ob"em sdelok EBRR za 2013 g [European Bank for Reconstruction and Development. Annual report for 2013: EBRD annual business volume for 2013]. Available at: Link. (In Russ.)
6. Rossiya i Afrika razvivayut sotrudnichestvo [Russia and Africa develop cooperation]. Available at: Link. (In Russ.)
7. RF ne budet aktivizirovat' peregovory po uchastiyu v MABR [The Russian Federation will not activate negotiations on participation in the Inter-American Development Bank]. Available at: Link. (In Russ.)
8. Stat' partnerom [To become a partner]. Available at: Link. (In Russ.)
9. The Black Sea Trade and Development Bank. Financial Statements for the Year Ended 31 December 2013. Together with Auditor’s Report. Available at: Link.
10. Rossiya gotova vlozhit'sya v Aziyu cherez Aziatskii bank razvitiya [Russia is ready to invest in Asia through the Asian Development Bank]. Available at: Link. (In Russ.)

View all articles of issue

ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

Journal current issue

Vol. 30, Iss. 4 April 2024

Archive