Russia allocates $1 mln for Black Sea region infrastructure projects - Russian Foreign Ministry
MOSCOW. Nov 18 (Interfax) - Russia will finance the development of infrastructure projects in the Black Sea region, the Russian Foreign Ministry said on Friday.
The funding is being allocated as part of a donor agreement between the Russian government, the Permanent International Secretariat of the Organization of the Black Sea Economic Cooperation Organization (BSEC) and the Board of Directors of the Black Sea Trade and Development Bank (BSTDB).
"The Russian Federation government has allocated US$1 million to ensure project cooperation as part of this Mechanism," the ministry said on its website.
"The Mechanism aims to prepare projects in areas such as developing regional and municipal infrastructure, increasing the export potential of the BSEC member states, raising energy efficiency and implementing 'green' technologies, small and medium-sized businesses with the aim of boosting development of mutually advantageous cooperation between all countries in the Black Sea region," the Russian Foreign Ministry said.
