OREANDA-NEWS  Last year, the Ministry of Finance of Russia could not borrow money from international financial organizations (MFOs) and fully repay debts to them. Such problems were reported in the Accounting Chamber, writes RBC.

Against the background of sanctions, it turned out to be impossible to issue unrelated (non-targeted) loans, and project loans for the implementation of specific measures were very difficult to obtain. In total, Russia was able to make only 68 percent of payments from the plan on loans from MFIs, foreign states, legal entities and other subjects of international law (16.3 billion rubles). Repayment difficulties arose with loans from South Korea, Northern and European investment banks.

The actual volume of funds raised by the Ministry of Finance of MFIs last year amounted to 2.79 billion rubles, or $ 35.2 million, of which three percent of the planned figure in dollar equivalent and 3.4 percent in ruble equivalent, the Accounting Chamber notes. The funds raised were intended for four projects: "Modernization and technical re-equipment of institutions and organizations of Roshydromet—2" and "Preservation and use of cultural heritage in Russia" (the structure of the World Bank - the International Bank for Reconstruction and Development, IBRD), "Development of water supply and sanitation systems" and "Integrated development of the infrastructure of small historical settlements, Stage 2" (BRICS Bank — New Development Bank, NBR).