Russia, Moscow, VDNH, Pavilion 75
03 December 2019

10 Billion Rubles for Changing the Elevators

The Eurasian Development Bank and the Public Council supervised by the Ministry of Construction, Housing and Utilities of the Russian Federation, with the support of the Embassy of the Republic of Belarus in the Russian Federation and the Permanent Committee of the Union State have worked out an investment project to support accelerated replacement of elevators in the housing facilities stock of the constituent entities of the Russian Federation by means of extrabudgetary funding.

The corresponding Agreement was signed on December 2, 2019 during the XIV International Conference on Eurasian Economic Integration. The document was signed by Vladimir Semashko, the Ambassador of the Republic of Belarus to Russia, Sergey Stepashin, Chairman of the Public Council supervised by the Ministry of Construction of Russia, Andrey Belyaninov, Chairman of the EDB Board and Grigory Rapota, State Secretary of the Union State.

During the first phase, in 2020, the EDB intends to allocate 10 billion rubles on the terms of interest-free installment payment under the commodity loan scheme for regional overhaul maintenance operators for up to 60 months, excluding appreciation for apartment owners. This will cover the expenses for changing more than 5,000 elevators and replacing them for new ones as soon as 2020–2021.

Vladimir Semashko noted that the investment project will give JSC “Mogilevliftmash” that is the major manufacturer of elevator equipment, and also a multiple participant in the International Elevator and Lifting Equipment Exhibition named Russian Elevator Week, an opportunity to receive extra orders in the Russian market.

Moreover, joint ventures in Russia will be able to take part in the accelerated elevators replacement program, such as: Production Association MLM Vozdukhotekhnika (Moscow), MLM Nevsky Lift (St. Petersburg), Production Association NLM (Moscow Region).

We invite elevator and elevator equipment manufacturing companies to take part in the major industry event in Russia – the International Exhibition of Elevators and Lifting Equipment named Russian Elevator Week! Within the framework of the event all participants in the industry community will have an excellent opportunity not only to see and personally test the latest equipment samples, but also to discuss the most urgent issues and problems, including one of the key topics – the program for accelerated replacement of elevators in our country.

See you at Russian Elevator Week-2021! We are looking forward to meeting you at the VDNH Exhibition of Economic Achievements, exhibition hall 75, from June 7 to June 9!