EBRD plans to finance Russian pipeline infrastructure
Thu, 23 December 2004
THE European Bank for Reconstruction and Development (EBRD) is to finance the modernization and expansion of Russian pipeline infrastructure without sovereign guarantees, according to reports of its Russia strategy for 2005-2006.
The EBRD is also reported to have said that it would seek an active role in the restructuring of natural monopolies in Russia, with special emphasis on the energy sector and possible investment in the gas sector once reforms are under way.
Financing for new infrastructure could facilitate Russia’s integration with neighbouring countries, in particular within the framework of the energy debate between the European Union and Russia, the bank said.