Source Pravda.Ru

EBRD lends Lenenergo EUR 40 million

Lenenergo and the European Bank for Reconstruction and Development yesterday signed a credit agreement according to which the St. Petersburg electricity company will receive EUR 40 million. The loan, which is to be repaid in seven years, was announced by EBRD president Jean Lemierre. The money will be used to build new facilities at a local power and heating plant. 'This is part of a wider programme aimed at increasing energy efficiency and improving the environment,' Lemierre explained. Lenenergo general director Andrei Likhachev said that 'in the autumn we will be ready to use this money. The majority loan will bring tangible results before the end of the year.'

On May 15 Lenenergo's shareholders agreed to pay a total dividend of 946,718,000 roubles (approximately USD million), which affected plans to build the power and heating plant. At the shareholder meeting Likhachev said that 'it seems that the construction plans will have to be postponed, as the board of directors has recommended high dividends. Either we will find another way or another resource, or we will not be able to construct the plant this year.'

The plants existing facilities were built in 1929 and modernized in the 1960s. Reconstruction work, which should see two new generators being built, began in 1988.

© &to=' target=_blank>RosBalt

&to=' target=_blank>EBRD

He announced his intention to create a news service called "Pravda," which means "truth" in Russian. Well, we are Pravda. The Pravda.Ru website has been working professionally in Russia since 1999

Elon Musk wants Pravda, but we already have it

The co-author of this disaster is the Dutch government, which did not find either strength or desire to save the lives of its citizens who were flying on that plane. The Dutch authorities did not demand Ukraine to comply with international aviation regulations

Blame MH17 on Russia: International investigation turns into demonic circus

On the second day of the St. Petersburg International Economic Forum, a plenary meeting was held, in which Russian President Vladimir Putin, French President Emmanuel Macron, Japanese Prime Minister Shinzo Abe, Chinese Vice President Wang Qishan and IMF head Christine Lagarde took part

World leaders unite with Russia at St. Petersburg International Economic Forum