JSC Russian Railways (RZD) and the European Bank for Reconstruction and Development (EBRD) have signed a Memorandum of Cooperation to upgrade railway infrastructure and related projects.

The document was signed on 20 June by RZD President Vladimir Yakunin and EBRD President Sir Suma Chakrabarti during the St. Petersburg International Economic Forum.

Under the terms of the agreement the parties are committed to developing infrastructure for high speed rail transport, joint venture private-public partnerships to upgrade railway stations, and projects to develop transport logistics activities.

RZD will now study the possibility of involving the EBRD in the financing of the company’s projects.

(Source: RZD)