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in Asia and Latin America. With the current capital EBRD cannot invest more than €8 billion a year; the increase in capital will raise this limit to €9 billion.Analysts point out that EBRD"s involvement in investment projects ensures certain protection against abuse and corporate raiding. Therefore, EBRD"s presence helps attract private investors as well, at an average ratio of €2-€3 of private capital per €1 from EBRD.
Russia receives the greatest amount of EBRD investment. For example in 2008, Russia accounted for €1.8 billion or 35% of the bank"s total investment.
Each EBRD shareholder makes a contribution proportionate to their stake. Russia"s stake is 4% and will remain such after the increase in capital. At this point, Russia will only transfer €40 million, not €400 million according to its stake; the remaining €360 million will be added only in case of need.
For now, EBRD will be satisfied by
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