The White House
President George W. Bush
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For Immediate Release
Office of the Press Secretary
May 24, 2002

Fact Sheet: Banking Dialogue
U.S.-Russia Banking Dialogue

In November 2001, Presidents Bush and Putin welcomed the creation of a private-sector led U.S.-Russia Banking Dialogue to support the building of a vigorous banking sector in Russia that turns Russians' savings into investment and jobs.

The dialogue has worked to lend a unique perspective to banking reform in Russia by bringing together representatives of Russian small, medium and large banks; foreign banks; banking and business associations; and small and medium businesses.

During their meetings in Moscow, Dialogue participants presented the two Presidents with a report containing specific, concrete reform recommendations. These recommendations build on the Russian Government's banking reform strategy and identify steps that the private sector believes will produce early and tangible results. The report is a valuable and timely document. Its recommendations include measures to address the following challenges:

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