According to Alexander Ivanov, Deputy Governor of the Krasnodar Region, many new investment projects are on the table with the European Bank of Reconstruction and Development, a strong and active investment body in Russia. The bank has stated that it is seeking primarily to develop city infrastructure and invest in the private sector, with the majority of projects in the construction field.
These new ventures would add to the bank’s current investments in the city’s developing infrastructure in the lead up to the International Olympic Committee’s decision of a host city for the 2014 Olympic and Paralympic Winter Games.
Some projects of interest to the bank include development of Sochi’s famed seaport and resorts. Jean Lemier, President of the European Bank of Reconstruction and Development, noted, “these areas are very important to us in terms of investment”. The Bank is also planning to invest money into development of the Sochi and the Krasnodar regional airports, key infrastructure projects bolstering the city’s Olympic aspirations.
Mr. Lemier stated: “We know that Sochi is a candidate city to host the Olympic Winter Games in 2014. We are already investing in the Krasnodar region in the public sector. We already have one project in the region and now we are discussing several new ventures with the Mayor of Sochi.”
Mr. Ivanov announced that a recent deal with the European Bank of Reconstruction and Development included a project to develop public transport for a sum of €10 million. In addition, the bank has invested in the construction of a cannery Bonduelle Kuban for €15 million, has opened credit lines at the Yugbank for small and mid-level businesses, and has a stake in the Investment Bank of Kuban.
Sochi 2014 Bid CEO Dmitry Chernyshenko commented, “Sochi 2014 welcomes the investment in the region from a reliable and proven investment partner such as the European Bank of Reconstruction and Development. They have a very impressive track record and I am confident that they will successfully participate in giving the city all the necessary infrastructure to host an astounding and truly unique Olympic Winter Games and to guarantee a positive and lasting legacy to the whole region.”
