62706 v2

Restructuring                                                                Status: Archived
Restructuring Type: Level two
Last modified on date : 06/14/2011

1. Basic Information
Project ID & Name                       P069063: ST. PETERSBURG ECON DEVT
Country                                 Russian Federation
Task Team Leader                        Tatyana Shadrunova
Sector Manager/Director                 Wael Zakout
Country Director                        Pedro Alba
Original Board Approval Date            05/15/2003
Original Closing Date:                  08/31/2009
Current Closing Date                    07/01/2012
Proposed Closing Date [if applicable]   12/31/2013
EA Category                             F-Financial Intermediary Assessment
Revised EA Category                     F-Financial Intermediary Assessment-Financial
                                        Intermediary Assessment
EA Completion Date
Revised EA Completion Date


2. Revised Financing Plan (US$m)
Source                                           Original                      Revised
BORR                                                  78.70                         470.83
IBRD                                                 161.10                         101.10
Total                                                239.80                         571.93


3. Borrower
         Organization                   Department                         Location
Ministry of Finance                                             Russian Federation


4. Implementing Agency
          Organization                  Department                        Location
Ministry of Culture                                           Russian Federation




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5. Disbursement Estimates (US$m)
Actual amount disbursed as of 06/17/2011                                                        82.87
         Fiscal Year                                Annual                         Cumulative
2011                                                         0.00                               82.87
                                                         Total                                  82.87


6. Policy Exceptions and Safeguard Policies
Does the restructured project require any exceptions to Bank policies?                                N


Does the restructured projects trigger any new safeguard policies? If yes, please select              N
from the checklist below and update ISDS accordingly before submitting the package.




7a. Project Development Objectives/Outcomes
Original/Current Project Development Objectives/Outcomes
1) Policy and regulatory environment is conducive to the expansion of private sector enterprises; 2) Larger
and more efficient private market for land and real estate; 3) Improved City fiscal management capacity; 4)
City to preserve its comparative advantage in culture and the arts.



7b. Revised Project Development Objectives/Outcomes [if applicable]




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