World Bank Opens $100 mln Credit Line for Russian Technoparks

The World Bank has opened a $100 million credit line to finance a development program for technoparks in areas of high technology in Russia, Information Technology and Communications Minister Leonid Reiman said at a press conference in Moscow on Friday.

Reiman said $20 million had already been received for the creation of a technopark in St. Petersburg on the core of the Bonch-Bruevich Telecommunications University.

The program envisions the construction of seven technoparks in high technology, namely in Tomsk, Novosibirsk, the Moscow region and Kazan, although this list is to be expanded.