This brings me to the TACIS project funded by the European Union for the training of around 400 experts of the Central Bank of Russia over 24 months. Our project will concentrate mainly on the areas of banking supervision and regulation, inspection and licensing, as well as bank rehabilitation.
There are two main points that I would like to emphasise: first, the Eurosystem's approach to the TACIS project and, second, the focus on the important issue of banking supervision. First, the Eurosystem – which comprises the ECB and the euro area national central banks – is fully committed to the TACIS project.