The Russian Audit Chamber is to send a letter to Russian Prime Minister Mikhail Fradkov. The Audit Chamber will ask the prime minister to focus his attention on the RUSSIAN BANK FOR DEVELOPMENT (ROSBR) which is to be used for the purpose specified. Otherwise, it must merge or another structure should be established on its basis to participate in the government’s investment policy more actively, said Mikhail Beskhmelnitsyn, a chamber auditor. The statement was made after 2004 and 2005 bank accounts were audited. ROSBR should be involved in a range of projects funded from an investment fund estimated at R70 billion for this year.
Source: VEDOMOSTI, June 19, 2006
