World bank loans Russia $ 60 million for meteorology upgrade

WASHINGTON, (PNA/RIA Novosti) -– The World Bank has approved a $ 60 million loan to Russia to co-finance a project modernizing the country’s meteorological data gathering systems, according to an official statement.

The loan will provide almost half the funding required by Moscow’s $ 139.5 million Second National Hydromet System Modernization Project (Roshydromet-2).

The project will improve the information that Russia provides regarding weather, hydrological issues and climate, according to the statement released Tuesday.

Michal Rutkowski, World Bank Country Director for Russia said: “The project will contribute to sustainable development and effective protection of the national economy and human lives from extreme weather and climate related disasters. It will also help to strengthen Russia’s contribution to global public goods and further its role in the World Meteorological Organization and as a regional leader.”