BRICS Development Bank will allocate about $ 70 million to build Eastern Exit from Ufa
The Board of Directors of the New Development Bank BRICS approved allocation of a loan to Russia for $ 68.8 for the construction of an Eastern Exit from Ufa to the M-5 highway.
The bank’s official statement says: "Within the framework of the Eastern Exit from Ufa project, the Bank will provide the Russian Government with a sovereign loan of 68.8 million for the construction of a toll road connecting the center of Ufa to the M-5 federal highway".
The New Development Bank is an international financial organization created by the BRICS countries (Brazil, Russia, India, China and South Africa). The bank's goal is to finance infrastructure projects and sustainable development projects in the BRICS countries and developing countries.