St. Petersburg says seeks 25 bln rbl infrastructure loan

ST. PETERSBURG, Aug 18 (PRIME) – St. Petersburg hopes to attract an infrastructure loan of 25 billion rubles to help it develop the key infrastructure projects, the governor’s office said in a statement on Wednesday.

Earlier, Russian President Vladimir Putin proposed to provide the regions with infrastructure budget loans at no more than 3% for 15 years under full control of the Federal Treasury and for specific projects, which have passed federal scrutiny.

The governor of St. Petersburg Alexander Beglov has discussed attracting 25 billion rubles of infrastructure loans with the government, his office said.

St. Petersburg is ready to fulfill the mandatory requirement on co-financing the projects from extra-budgetary sources and get money from the federal center at 3.5% for 15 years. This will accelerate construction of several key infrastructure in the city,” the governor’s office quoted Beglov as saying.

The projects on St. Petersburg’s list include Western High-Speed Diameter’s Skipper Junction.

Beglov also said that St. Petersburg is ready to apply for loans above the quota of 25 billion rubles set for the city, the office said.

(73.3920 -- U.S. $1)

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