GFMC: Russia: World Bank to lend Russia $60 Million for Forestry Project, 4 April 2001

Russia: World Bank to lend Russia $60 Million for Forestry Project

Source: Interfax News Agency, 4 April 2001

Moscow – The World Bank will provide Russia with 60 million US dollars in financing for a pilot project to create a system for sustainable forest management, the spokesman for Deputy Prime Minister and Finance Minister Aleksei Kudrin said on Wednesday. Russia and the Bank signed the agreement on the project on 30 March 2001, Stanislav Naumov said. The money will be used to improve the government system of forest management, introduce effective methods to protect forests from fires and pests, Naumov said. Employees of forestry companies will also be trained in modern logging and timber processing technologies, he said. The loan money will initially be disbursed in only three Russian regions: Leningrad region, and Krasnoyarsk and Khabarovsk territories. “After the financing scheme for this pilot project is perfected, the World Bank loan will be extended to other regions of Russia,” Naumov said.


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