The Program will primarily focus on development of Russia’s trade-enabling infrastructure: sea ports and maritime vessels, but also will have a broader scope by including river transport that in many instances serves as a feeder for maritime transport. The Black Sea Trade and Development Bank (BSTDB) will on-lend NDB funds to port owners and operators, as well as to maritime companies.

The Program will contribute to an increase in capacity and efficiency of sea and inland ports and passenger terminals, as well as of cargo and passenger vessel fleet.

The Program is expected to facilitate economic growth in Russia by (i) enhancing national competitiveness in international trade via increased cargo-handling capacity and faster delivery times through improved port efficiency, and by (ii) improving water transport connectivity by expanding Russia’s passenger fleet.

The Project is to be implemented between 2020 and 2024. The Black Sea Trade and Development Bank will be the Project Implementation Agency for the NDB Loan. Procurement will be conducted in compliance with the national laws and regulations of Russia, and will meet the core principles of NDB’s policy.

The Program has been categorized as Category FI-A in line with NDB’s Environmental and Social Framework (ESF) as funding will be to a financial intermediary and seaport construction projects are typically assigned Category A due to significant adverse E&S impacts and risks. All sub-projects will be subject to E&S appraisal and supervision by BSTDB through application of BSTDB’s E&S Management System which is consistent with NDB’s ESF. E&S impacts will be identified and assessed through a formal environmental impact assessment, negative impacts will be mitigated by the implementation of environmental impact mitigation plans.