EBRD to invest considerable funds in Russia’s road building

MOSCOW, August 18 (Itar-Tass) —— The state company Russian Motor Roads (Avtodor) has concluded on Thursday a memorandum of cooperation with the European Bank for Reconstruction and Development (EBRD). The document was inked by acting head of the Avtodor board Sergei Kelbakh and EBRD infrastructure managing director Thomas Meyer.

The bank’s participation in concrete projects and sums of financing has not been defined yet. According to Meyer, EBRD will work directly with Avtodor giving it loans, purchasing bonds and rendering assistance in attracting funds to implement projects, as well as with partners of the sate company according to concessive agreements. As the top manager noted, it is not correct to speak about specific sums, however, the sums will be considerable.

As Meyer added, EBRD shows interest in building the highway Moscow-St. Petersburg, as well as other projects of Avtodor. They, as he stressed, will watch them with interest, but all road projects will have to correspond to the EBRD ecological, public and social standards.

For his part, Sergei Kelbakh confirmed that Avtodor, in particular, is holding talks on the participation of EBRD in the construction of different sections of the highway Moscow-St. Petersburg, as well as the running and reconstruction of the highway M4 Don.


Leave a comment