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Jun 06, 2019

Russian Railways and Russia’s Ministry of Economic Development agree on development of green financing in Russia

Russian Railways and the Ministry of Economic Development of the Russian Federation have agreed to cooperate on financing and implementing infrastructure projects using environmentally safe technologies.

A memorandum to that effect was signed today at the St. Petersburg International Economic Forum by the Chief Executive Officer and Chairman of the Board of Russian Railways Oleg Belozerov and Russia’s Minister of Economic Development Maxim Oreshkin.

The document provides for joint action in the development of railway projects, including using funds raised through green financing mechanisms.

Within the framework of cooperation, Russian Railways is ready to consider in particular the possibility of placing green bonds on the Russian market on a pilot basis in order to test green financing mechanisms.

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