MIL OSI Translation. Region: Russian Federation –
According to Deputy Prime Minister Victoria Abramchenko, the Government allocated 5 billion rubles to finance the construction of facilities in the field of municipal solid waste management through green bonds of the PIC REO. The corresponding order was signed by Prime Minister Mikhail Mishustin. Financing will allow launching at least 13 projects.
“To build a circular economy in Russia, it is necessary to support projects aimed at developing the MSW management industry. Green bonds will become another tool for the implementation of projects for the construction and reconstruction of waste processing and disposal facilities,” said Deputy Prime Minister Victoria Abramchenko.
The Deputy Prime Minister noted that the financing will attract more than 50 billion rubles of investment in the waste management industry for the construction of infrastructure.
In total, until the end of 2024, the Supervisory Board of the PPK REO approved the issue of green bonds in the amount of 100 billion rubles. Rosselkhozbank will act as the anchor investor in the acquisition of REO bonds. The green bonds issued by the REO will be purchased by the end of 2024 on market terms.
“The environmental agenda has become a global trend, and when implementing measures to support investment projects, we evaluate, among other things, the world experience in financing environmental projects using green instruments. REO is constantly looking for support measures for the market so that investors can enter the industry and develop it. This is done within the framework of building a circular economy and the goals outlined in the national project “Ecology”. A number of measures have already proven their effectiveness, in 2021 five projects were financed for a total of 6.1 billion rubles,” added Denis Butsaev, Director General of the PIC REO.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.