Source Pravda.Ru

EBRD makes first investment in Russia's ports

The European Bank for Reconstruction and Development (EBRD) is to lend $5.4 million to the fund for the construction a maritime-navigation safety system designed to reduce the risk of collision in the Russian sector of the Baltic Sea, the bank reported in an official statement on Thursday. A massive surge in tanker traffic is being projected, the statement said.

The loan will be the EBRD's first investment in the Russian port sector, the director of the EBRD's Transport Team Ricardo Puliti said. The five-year loan will allow for the completion of the second phase of a regional-navigation safety system in the Gulf of Finland. The total cost of the second phase is estimated at $9.3 million, the St. Petersburg Times reported.

© &to=http://www.rbc.com' target=_blank>RBC

Comments
Russia's Prokopchuk loses Interpol election
Russia's Prokopchuk loses Interpol election
Russia's Prokopchuk loses Interpol election
Argentina hides the truth about the death of San Juan submarine
Russia's Prokopchuk loses Interpol election
Russia's Prokopchuk loses Interpol election
Russia close to recognising Donetsk and Luhansk republics after Donbass elections
Unemployment in Russia hits record high of 15 percent
Third Rome and geopolitics of Orthodox schism
Putin wants Russian army rearmed almost completely by 2021
Japan ratifies agreement to supply weapons and ammo to warring states
Argentina hides the truth about the death of San Juan submarine
Argentina hides the truth about the death of San Juan submarine
Putin and Erdogan launch first section of TurkStream pipeline in Istanbul
Why Trump tries to re-industrialize America
Why Trump tries to re-industrialize America
Unemployment in Russia hits record high of 15 percent
Kuril Islands dispute between Russia and Japan: The impossible is impossible
Russia to ban capture of killer whales and belugas in 2019
North Korea destroys security points in demilitarised zone
Russia to ban capture of killer whales and belugas in 2019