EBRD Will Take Part in Financing Construction of Circular Road around St. Petersburg
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved loaning EUR 255 million to the government of Russia of which EUR 135 million is supposed to supplement the financing of the circular road around St. Petersburg. The rest of the money will pay for the construction of the federal highway to connect the cities of Chita and Khabarovsk. This is according to the press release issued by the EBRD today. The date of the signing of the loan agreement has not yet been named.