Sberbank opened a 10-year credit line of up to 25 billion roubles (approx. EUR 278 mil.) to build a bridge over the Lena River in Yakutia, where the two parts of the region’s capital, Yakutsk, a are currently separated by the river. The regional government appointed a consortium of VIS Construction Group and state conglomerate Rostec to construct the bridge. Construction had been planned in 2014, but the project was postponed because Russia’s government diverted funds to financing projects in Crimea, which Moscow had just annexed from Ukraine. The total budget for the bridge is estimated at 83 billion roubles (approx. EUR 924 mil.), according to Sberbank and the first loan under the credit line is planned to be provided as early as this month.
