The International Investment Bank provides grant to Wetlands International to support peatland restoration in Russia

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In accordance with its environmental responsibility policy and promoting sustainable development in its member states, the International Investment Bank (IIB) has provided a grant to support the implementation of the second phase of the project “Restoring Peatlands in Russia – for fire prevention and climate change mitigation”.

On December 8, 2016, Nikolay Kosov, Chairman of the IIB Board, presented a certificate for EUR 70,000 Grant to Irina Kamennova, Coordinator of the Wetlands International Russia Programme, during the reception on the occasion of the 106th IIB Council Meeting in the Reception House of the Russian Foreign Ministry in Moscow.

“Targeted use of our resources, in particular in the form of environmental grants, follows the mission and goals of the IIB, which is looking for a balance between environmental protection and economic development of its member states, as well as to improve the quality of life of their populations. I am convinced that promotion of environmental activities is an effective deed both economically and morally”, said N. Kosov.

The IIB grant represents both a high appraisal of the work already done by the Project since 2012 and support for our future activities. The grant funds will be used to restore degraded peatlands in the Volga River catchment (Nizhny Novgorod province) and in Meshchera (Vladimir province).

International Investment Bank (IIB) is a multilateral development institution founded in 1970 based on the intergovernmental Agreement Establishing the IIB. The current nine members/shareholders of the Bank are Bulgaria, Cuba, Czech Republic, Hungary, Mongolia, Romania, Russia, Slovakia and Vietnam. The IIB invests in projects benefitting the economies of its member states and fostering multilateral economic cooperation