With regard to technical cooperation, we are currently holding discussions among our staff and with the EU Delegation to Russia to prepare a new important technical assistance project which in terms of scope and time would closely follow the first project I have just referred to. - Do you think Russia is a safe borrower and an appealing country for investors?
The facts and figures are quite impressive. I would observe that spreads on international Russian bonds have declined substantially over the last years, while the amount of crossborder claims, in forms of foreign direct investment (FDI), bonds and loans, has been increasing rapidly. This also reflects the strong growth and macroeconomic stability of the Russian economy in recent years.