LONDON, Aug. 3 - The European Investment Bank (EIB) mandate for operations in Russia, Belarus, Moldova and Ukraine could be raised to 5 billion euros, according to an EBRD Russian strategy report.
The current mandate expires next July. It allows the bank to implement projects of up to 500 million euros in 2005-2006 (about 170 million euros per year) in Russia, Belarus, Moldova and Ukraine. The new limit will remain in force from July 2007 to 2013. If the EU Finance Ministers Council approve a 5 billion euro limit, investment per year will exceed 700 million euros.