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The signing ceremony of 2 agreements in the framework of the Pilot Financial Initiative between VEB and KfW

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After a successfull launch of the SME pillar of the PFI (110 mm USD  loan) on 16th of November in Moscow, a substantial progress in the 2nd Tаrget area of activities, in the field of PPP, has been made on 12th of  December in Stockholm. Within the framework of the Pilot Financial Initiative VEB and KfW have  signed a new loan agreement. It will be offered to VEB by KfW in Russian Rubles with a tenor of 7 years in amount equivalent to 65 mm USD. This loan may become a new very important step in the implementation of PFI.

A new project provides for construction and operation of five solid  waste processing plants in Saint Petersburg. The production will be equipped with high-tech lines for automatic sorting and processing of mixed solid waste (9 lines with capacity of 100 thousand tons of solid waste per year each). The proposed technology has been successfully applied and operated within similar waste processing plants owned by VEB client "Avtopark No. 1 "Spectrans" (recipient of funds). The main goals of the project are efficient use of natural resources, protection of environmental conditions and improvement of energy efficiency. 

Particularly implementation of the project will reduce up to 75%-80% of solid waste disposed on landfills providing for a significant increase in useful life of landfills and improving environmental situation in the region as a whole. As a result of operation of these 5 plants up to 70%-75% of recycled waste become a range of marketable recycling products such as paper, fluted board, offset paper, newsprint, polyethylene bottles, high-density (low pressure) polyethylene boxes, polyfilm, iron-and-steel scrap, cans, fuel elements for cement industry, biodegradable waste and up to 15%-20% of the processed waste become environmentally neutral material that does not contain biodegradable components. Thus, the project will reduce greenhouse effects in the region and eliminate harmful impact on landfills from waste disposal. 

Moreover such services in St. Petersburg region is in high demand therefore the production lines of the plants are estimated to be in full operation. Additionally the project is promoted by special regional long-term program "Regional long-term program for treatment of municipal and industrial waste in St. Petersburg for the period from 2012 to 2022 years". It is also supported by the government of St. Petersburg city and these five plants will be constructed on municipal land under long-term (49 years) lease agreement.

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