EBRD to make USD 295 million loan for road modernisation in Russian Northwest

The EBRD and the Russian government are due to sign an agreement on a USD 295 million loan for modernizing road networks in the North-West and Far East on July 4. Agreement on this was reached in St. Petersburg today during a meeting between Economic Development Minister German Gref, Transport Minister Sergei Frank and EBRD President Jean Lemierre.

Sergei Frank told journalists that the meeting also dealt with the EBRD's future participation in a project to build a ferry link between Ust Luga, Kaliningrad and German ports.

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