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Russia: EBRD Approves Loan For Airport Terminal

Washington, 1 September 1997 (RFE/RL/) - The European Bank for Reconstruction and Development (EBRD) has approved a loan of up to $120 million to help finance the construction of a new international terminal at St. Petersburg's Pulkovo airport.

The new terminal, coupled with the restructuring of operations, is designed to facilitate the rapidly growing international business and tourist flows into St. Petersburg.

Interfax quotes the airport operating company's director Sergei Golubitsky as saying the new terminal will be able to handle 1,200 passengers per hour when it is completed in 2000. The airport company is jointly owned by the property management committee of St. Petersburg and some private American developers.

London-based EBRD says the entire project could cost as much as $200 million. The EBRD loan covers around 60 percent of projected costs.