Additional Financing for St. Petersburg Economic Development Project: To support St. Petersburg in (i) promoting conducive policy and the regulatory environment for the expansion of private sector enterprises; (ii) facilitating a larger and more efficient private market for land and real estate; (iii) strengthening City fiscal management capacity; and (iv) preserving and enhancing cultural assets in St. Petersburg. The higher level objective is to enhance St Petersburg’s prospects for economic diversification and growth. The AF will contribute to these objectives by leveraging the city’s cultural assets to sustain tourism, generate jobs and create opportunities for local businesses. Negotiations authorized on 26 June 2014. Environmental Assessment Category B. Project: P146463. US$200.0 (IBRD). Consultants will be required. Ministry of Culture of the Russian Federation Tel: 7-495-6238444, E-mail: novikov@mkrf.ru, Contact: Mr. Artem Novikov, Deputy Director of Estate and Investment Policy Department.
