By Heide B. Malhotra

Epoch Times Washington, D.C. Staff Apr 01, 2007

How does a post-communist country speed up the transition to a market economy? Seek direct investments from developed nations, of course. With the help of Western countries, many nations of the former Soviet Bloc are beginning to see the fruits of their labors.

The European Bank for Reconstruction and Development (EBRD) - the single largest investor for post-communist nations - increased its funding to formerly communist countries by close to 14 percent during 2006, according to a March 2007 release.

Total investments were $6.5 billion in 2006, compared to $5.7 billion during 2005.

Last year, the EBRD announced in its 5-year plan that it would allocate most of its investments for Russia, Ukraine, Central Asia, the Caucasus, the Western Balkans, and Southeast Europe.

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Posted by pichu at April 1, 2007 4:32 PM