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EDB to finance an environmental project in Belgorod Region (Russia)

EDB to finance an environmental project in Belgorod Region (Russia)

01 October 2015

Moscow, 29 September 2015. Eurasian Development Bank (EDB) will provide two loan facilities, amounting to EUR 6.61 million and RUB 517 million, to Flagman LLC to finance Phase 1 of the Long-Term Programme for Setting up an Up-to-Date Materials Recovery Facility (MRF) for solid household waste in Belgorod Region (Russia). The overall financing period will be eight years.

The project envisions the construction and operation of an automated MRF, with a capacity of 150,000 tonnes of household waste a year, and a disposal site for non-recyclable waste, with a capacity of at least 160,000 tonnes a year, in Gubkinsky urban district of Belgorod Region.

The process will include the sorting and recycling of recyclable waste, the production of a wide range of recyclable materials, and the disposal of non-recyclable waste.

“One of the most important investment objectives of EDB is to ensure the efficient use of natural resources, protect the environment, and improve environmental situation in the member states,” Sergey Petrov, director of the EDB project team, says. “This project is outstanding in Russia in terms of the level of waste processing and innovative European and Asian technology used.”

Over eight years of the Bank’s participation in the project (from 2016 to 2023), the gross output in Russia’s economy will approximate US $190 million. Hundreds of jobs will be created during the construction and operation of the MRF and the disposal site.

The project will be implemented in cooperation with the government of Belgorod Region.

Additional Information

Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The charter capital of EDB exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.