The Russian Ministry of Transport wants to ask Europe for money

The Ministry of Transport of Russia plans to start negotiations in January 2004 with the European Bank for Reconstruction and Development on the possibility of obtaining a loan of up to $100 million. According to RIA Novosti, referring to the words of the First Deputy Minister of Transport of the Russian Federation, head of the State Road Service Igor Slyunyaev, it is assumed that it will be a loan without guarantees from the Russian government. "This will be a pilot project," Slyunyaev said. According to him, in addition to the European Bank for Reconstruction and Development, among the most likely creditors of road projects of the Ministry of Transport are the European Investment Bank and the World Bank.

Slyunyaev noted the expediency of entering the Russian debt market and attracting at least 4 billion rubles into road projects. However, "these plans have not received support yet," Slyunyaev said. According to him, now the main burden of financing the repair and construction of road facilities falls on the federal and regional budgets.