Russian Railways and the European Bank for Reconstruction and Development (EBRD) signed an agreement for a loan of USD500 million over 10 years.
"We consider the fact that the loan has been granted as the implementation of the EBRD’s policy to get involved in large Russian projects that promote the integration of Russia into the European Union and Russian Railways into the global transportation system. It is also an indication that the reforms undertaken by the Russian Railways are going in the right direction and supported by international community," said Vladimir Yakunin, President of Russian Railways.
According to Yakunin, the Company and the bank have five years of good experience cooperating with each other. The high professionalism of the bank’s management, in particular, senior EBRD banker Zhanar Rymzhanova, enabled this issue to be resolved in a short time.
The loan will help to optimize the structure of the Company’s borrowings.