Russia set to borrow $100 million for house construction

After meeting with deputy Infrastructure Minister, Marek Bryx, Russia's deputy Prime Minister, Władimir Jakowlew, announced yesterday that Poland was ready to grant Russia a loan of up to $100 million, which is to be designated for the construction of mortgage housing. According to Jakowlew, the funds will be guaranteed by the Polish government. He added that domestic companies were interested in numerous contracts of this type and that Russia was interested in this form of cooperation. "The Russian government will grant all possible help to foreign companies that are interested in taking part in the construction of housing estates in Russia," announced Jakowlew. The deputy Infrastructure Minister, Marek Bryx, is currently on a two-day visit to Russia, accompanied by representatives of the Export Credit Insurance Corporation and the Polish Banks Association. (www.onet.pl) A.K.