The Kremlin ended years of rivalry between Russia’s most powerful financial organs by deciding at the end of May to create a national development bank, which will back investments into infrastructure projects, support economic growth and bolster Russia’s exporters.
The government has turned to Germany for help, signing up its state-owned development bank Kreditanstalt für Wiederaufbau (KfW) as adviser. KfW has been instrumental in supporting the reform effort of governments, banks and enterprises throughout central and eastern Europe.
