Release date: 22 July 2003
Promoter – Financial Intermediary
The Russian FederationLocation
Description
Completion of the construction of a Flood Protection Barrier across Neva Bay.
Objectives
Reducing the risk of flooding to the Municipal area of St. Petersburg.
Sector(s)
Proposed EIB finance (Approximate amount)
In the order of EUR 40 million.
Environmental aspects
The main environmental objective of the project is to ensure that there will be no further significant risk of human and economic losses from flooding in the City. An Environmental Impact Assessment (EIA) has been carried out. The completion and operation of the Barrier are designed to meet relevant Russian and EU environmental, health and safety standards.
Procurement
Contracts financed by the EIB will be subject to international competitive bidding.
Status
Signed - 3/05/2005
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).