U.S.S.R. to Get Banker Training
LONDON - The European Bank for Reconstruction and Development announced a technical-assistance plan to help develop the U.S.S.R.'s financial sector.
The plan, to begin this year, was adopted after a meeting of the bank's board, which was attended by a delegation from the Soviet Union and the Russian Federation, headed by Ernest Obminsky, Soviet deputy foreign minister.
$13 Billion Capital Base
The development bank, established earlier this year in London with a capital base of $13 billion, is charged with helping to speed the adoption of market reforms throughout Eastern Europe and the U.S.S.R.
A spokesman for the bank said Wednesday it would concentrate its aid in the Soviet financial services sphere on commercial banking, securities markets, and the insurance industry.
Training is to be provided both in the U.S.S.R. and overseas for key managers in banking. In securities, assistance will focus initially on the development of government securities and the establishment of stock exchanges.