AIIB Investing USD 500 Million in Transport Project in Russia

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AIIB Investing USD 500 Million in Transport Project in Russia

AIIB Investing USD 500 Million in Transport Project in Russia

The Asian Infrastructure Investment Bank has approved its first investment in the Russian Federation to improve transport connectivity and road safety in the country's key economic corridors. The USD 500 million loan, which will be administered by the Ministry of Transport and Rosavtodor, the Federal Road Transport Agency, will be used to upgrade existing infrastructure and support road rehabilitation in several subprojects that align with national transport priorities. Selection of the subprojects will target vital economic nodes and border regions, thereby enhancing trunk linkages and cross-border connectivity.

Upgrading the road network will increase safety, reduce travel time and allow for greater resilience to challenging climate conditions.

The project aligns with AIIB's priorities to invest in climate resilient infrastructure that improves economic outcomes and regional connectivity in and beyond Asia.

The Bank will apply its procurement, environmental and social requirements to ensure implementation is conducted to high international standards.

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