Access of Russia and Belarus to financing and examining the European Bank for Reconstruction and Development (EBRD) will be suspended indefinitely.
The Board of Directors of the EBRD approved such a decision, but it should still be approved by the Board of Governors, the organization says.
“In the case of approval by managers, access to Russia and Belarus to finance and expertise, the EBRD will be suspended indefinitely,” the EBRD reported.
It is noted that the managers have 30 days to vote.
Also, the EBRD in collaboration with partners is preparing a package of emergency financing for the affected region. It may include support for liquidity for the private and public sectors, as well as regions affected by the influx of refugees.