The EDB extends an additional RUB 1.5 billion to build a Western High-Speed Diameter interchange near Shkipersky Protok Street in St. Petersburg
St. Petersburg, 5 June 2021. The Eurasian Development Bank (EDB) has provided an additional RUB 1.5 billion to Western High-Speed Diameter JSC (WHSD) to finance the construction of an interchange near Shkipersky Protok Street in St. Petersburg. The project will improve transport accessibility of the Vasilievsky Island reclaimed areas and promote the development of the Marine Facade port. The agreement was signed by Dmitry Kralik, General Director of WHSD, in the presence of Alexander Beglov, Governor of St. Petersburg, and Nikolai Podguzov, Chairman of the EDB Management Board.
The EDB is a lender financing the construction of the Western High-Speed Diameter toll road in St. Petersburg. The Bank has already provided an equivalent of RUB 16 billion for the project. At one of the stages, the Bank replaced the European Bank for Reconstruction and Development (EBRD), which had provided financing for a total of EUR 200 million. At the current St. Petersburg International Economic Forum, the EDB, VTB Bank, and Gazprombank have set conditions precedent for extending up to RUB 10 billion to build the WHSD–Vitebsky Prospekt interchange.
“The EDB has extensive experience in financing state-of-the-art high-speed roads. Today, we are involved in the construction of several stages of the Central Ring Road around Moscow, as well as the Big Almaty Ring Road. Expanding our involvement with the WHSD is a very important milestone for the Bank in developing cutting-edge urban infrastructure in St. Petersburg,” said Nikolai Podguzov, Chairman of the EDB Management Board.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 and is headquartered in Almaty. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and machinery.
The EDB Media Centre:
Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)
Sergey Gorbachev +7 (916) 727 22 00 (Moscow)