SOCHI, September 21, 2007 – Today, in the framework of the VIth International Investment Forum “Kuban–2007”, Mr. Shigeo Katsu, Vice President for the World Bank’s Europe and Central Asia Region, met with Mrs. Valentina I. Matvienko, Governor of the City of St. Petersburg.
During the meeting Mr. Katsu and Mrs. Matvienko discussed prospects for building further cooperation between the Bank and St. Petersburg in developing the City’s infrastructure. In December 2006 the City of St. Petersburg and the World Bank had signed a Memorandum of Understanding, and since then the Bank has started assistance on a series of private-public-partnership (PPP) projects in St. Petersburg. Among them is the Western High-Speed Diameter, where the Bank supports the St. Petersburg’ government in implementing a private-public-partnership (PPP) scheme for building an urban toll road worth of about $ 3 billion dollars. This scheme is the first ever concession in the modern history of Russia.
“The Governor and the City Administration have done an outstanding work to promote the private-public-partnership agenda. Moreover, they have made a tremendous effort to build an internal capacity of the team, that has put this agenda into practice,” - said Mr. Katsu, Vice President for the World Bank’s Europe and Central Asia Region.
Successfully evolving partnership with the government of St. Petersburg, also foresees Bank’s assistance in implementing a private-public-partnership scheme to build a tunnel under the Neva River, to construct a light rail train in the Southern part of the City, and joint work on turning the Pulkovo airport into a regional hub by attracting the private investments, and on putting in order the institutional arrangements for preparing and monitoring of the PPP schemes.
“Undoubtedly, being reform-minded and innovative, St. Petersburg is the champion in introducing the new forms of cooperation between the state and the private sector. It is a great honor for the Bank to popularize the City’s experience in implementing the private-public-partnerships scheme - an encouraging example for other Russia’s regions to follow,” – commented Mr. Klaus Rohland, World Bank’s Country Director for Russia.
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