in 2022, the Russian Federation attracted 3% of foreign loans from the planned level – Kommersant

In 2022, Russia completed a program to attract foreign loans from international financial organizations (IFIs) by 3% in dollar terms. Foreign funds were invested in four out of nine planned projects. The volume of attracted foreign funds last year amounted to $35.2 million, follows from the conclusion (.pdf) of the Accounts Chamber of the Russian Federation on the execution of the federal budget for 2022.

“The external borrowing program for 2022 in terms of attracting loans from IFIs was completed by 3% in dollar terms, which is due to the current geopolitical situation, in which the project activities of IFIs in the Russian Federation have been suspended for an indefinite period. The actual volume of raising funds from IFI loans, carried out under four projects, amounted to $ 35.2 million, or 2.8 billion rubles, in dollar terms, ”the text of the conclusion says.

As clarified RBC in the Accounts Chamber, foreign funds were invested in the implementation of the following projects: “Modernization and technical re-equipment of institutions and organizations of Roshydromet-2” and “Preservation and use of cultural heritage in Russia” (funds were allocated by the International Bank for Reconstruction and Development, IBRD), “Development of systems Water Supply and Sanitation” and “Integrated Development of the Infrastructure Territory of Small Historical Settlements, Stage 2” (BRICS Bank – New Development Bank, NDB). At the same time, in 2022, Russia planned to attract external loans for nine projects for $1.15 billion, the publication reported.

In the conclusion of the Accounts Chamber, it is also reported that in 2022 Russia paid off external debts for 16.3 billion rubles, which is 67.9% of the planned level. According to RBC, of ​​this amount, 12 billion rubles. went to repay 11 loans to the IBRD.

In March 2022, Russian President Vladimir Putin imposed restrictions on creditors from unfriendly countries – settlements with them must be made in rubles. In the same month, NBR suspended new transactions in Russia. Suspended business in the Russian Federation and another major lender – the Asian Infrastructure Investment Bank. In October 2022, Vladimir Putin brought the NDB and AIIB out of the restrictions.

Erdni Kagaltynov