RUSSIAN RAILWAYS (RZD) is to receive a $US 500 million loan from the European Bank for Reconstruction and Development (EBRD), which will be used to help it restructure its balance sheet and complete a series of reforms that began in 2001. The 10-year unsolicited loan would be the largest single investment by the EBRD since it was established in 1991, and takes the bank's total investment in Russia's railways since 2001 to $US 1.2 billion.
RUSSIAN RAILWAYS (RZD) is to receive a $US 500 million loan from the European Bank for Reconstruction and Development (EBRD), which will be used to help it restructure its balance sheet and complete a series of reforms that began in 2001. The 10-year unsolicited loan would be the largest single investment by the EBRD since it was established in 1991, and takes the bank's total investment in Russia's railways since 2001 to $US 1.2 billion.
In a statement, EBRD said the loan would be closely
tied to the reform goals set by RZD and the government, including the
restructuring of freight operations and improving sector regulation.
