Russian President Vladimir Putin has signed the federal law "On Ratifying a Framework Agreement between Russia and the European Investment Bank and Additions". This law, passed by the State Duma on October 17, 2003, regulates the activities of the European Investment Bank in Russia, the Russian presidential press service reported. It was approved by the Federation Council on October 29, 2003.
The aim of this framework agreement is to attract additional funds for financing environmental projects along with projects related to energy, transport and manufacturing infrastructure. The European Investment Bank is to finance investment projects related to the environment in the north-west of Russia for a total of about EUR100m.