News
23 December 2019
AIIB agrees $500m loan for Russian transport project
In:
Social infrastructure
Region:
Europe
The Asian Infrastructure Investment Bank (AIIB) has approved its first investment in Russia to improve transport connectivity and road safety.
The $500 million loan 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 - 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.
