Opening Asia for Russia

EDB strengthens business ties with St. Petersburg

09.07.2020 111 просмотров

The Eurasian Development Bank will take part in the construction of the Latitudinal Railway and the Kupchino-Shushary-Slavyanka tram line.


Governor Alexander Beglov and Chairman of the Board of the Eurasian Development Bank Nikolay Podguzov today signed an agreement of intent aimed at the implementation and financing of investment projects for the development of transport and communal infrastructure of St. Petersburg.

The agreement consolidates St. Petersburg's longstanding business ties with the EDB and gives rise to further cooperation, primarily in such projects as the construction of the Latitudinal Expressway and the Kupchino-Shushary-Slavyanka tram line.

How quickly and effectively these projects will be implemented depends on the development of the economy of St. Petersburg and the quality of life of the citizens,” said Alexander Beglov.

The head of the northern capital recalled that St. Petersburg and the EDB have a long history of cooperation . The Bank participated in the reconstruction of the first phase of Pulkovo Airport. The city expects to continue this successful experience in the construction of the second stage. The EDB also took part in financing one of the largest transport projects not only in St. Petersburg, but also in Russia - the construction of the Western High-Speed Diameter. As a senior creditor, the Eurasian Bank invested 10 billion rubles in the construction of the WHSD. “All these projects are successful. The experience of cooperation we have gained should be used to solve other problems facing St. Petersburg,” the governor is sure.

In turn, Nikolay Podguzov stressed that St. Petersburg is one of the largest partners for the EDB. “We intend to continue to actively participate in infrastructure construction, in the development of urban transport and other projects. We hope to continue cooperation,” he said.

The Eurasian Development Bank is an international financial organization established by Russia and Kazakhstan in January 2006 to promote the development of the market economy of the member states, their sustainable economic growth and the expansion of mutual trade and economic ties. The authorized capital of EDB is 7 billion US dollars, in total, the bank's portfolio includes more than 90 investment projects in six countries.

Economy and business

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Economy and business

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Economy and business

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