July 2, 2020, Moscow - Sberbank will finance the construction of a multifunctional materials recovery facility in Kaliningrad Region. This is the first concession project since the launch of the municipal solid waste (MSW) management reform in Russia in 2019. When planning the project, Sberbank's MSW out-of-box solution has been used for the first time.

The loan will top RUB 2 bln and the total size of investment will be about RUB 3 bln. Sibinveststroy LLC will act as the concessionaire and the government of Kaliningrad Region will act as the concession grantor.

The project is designed to create a modern infrastructure that ensures safe waste management in the region and fully meets the goals of the Ecology national project. Under the terms of the concession agreement, at least 50% of the waste will be recycled.

Alexander Vedyakhin, First Deputy Chairman of the Executive Board, Sberbank,

'Sberbank pays close attention to ecology. Lending to environmental projects complies with the ESG (environmental, social, and governance) principles of sustainable development the bank adheres to in its activities and actively promotes in Russia. Therefore, we are ready to finance other projects to create technological multifunctional complexes for managing MSW, which ensure the use of waste as a source of energy and secondary raw materials and at the same time meet the global requirements of today as much as possible.'

Increasing the share of waste treatment and its involvement in secondary economic turnover, including via PPP, is outlined in the State Environmental Development Policy Bases as one of the top priority mechanisms for ensuring environmentally friendly waste management and environmental protection.

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Sberbank of Russia published this content on 02 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 July 2020 08:28:05 UTC