| This project is especially innovative because it is a sub-sovereign transaction which taps into a new source of finance, a co-financing arrangement with a local commercial bank. It is part of a larger sub-sovereign infrastructure development program, the Khanty Mansi Regional multi-sector municipal services development program (MSDP). The EBRD Project Profile outlines the project: “The proposed project would involve loan to Surgutsky Rayon, a municipality in the Khanty-Mansi Autonomous Okrug (the Okrug). The project would focus on priority investments to improve municipal district heating, water and wastewater infrastructure facilities and services in small settlements of Surgutsky Rayon. The project would also finance institutional strengthening of integrated municipal services company established in the due course of project implementation. The municipality of Surgutsky Rayon will be the borrower of the EBRD loan up to RUB 810 million (equivalent to ~ EUR 23 million). The Khanty-Mansi Autonomous Okrug will provide a guarantee to support the project, which has a total cost of RUB 1,400 million (equivalent to ~ EUR 40.5 million)." Source: EBRD Project Profile - http://www.ebrd.com/projects/psd/psd2006/36340.htm | 
