Vnesheconombank has frozen its Olympic construction. The bank promised $107 billion for the project earlier, Kommersant reports.
Investors are to hand management of facilities to the Sochi-2014 Organization Committee for testing in 2013. They include two Olympic villages in the Imeretinskaya Valley and Krasnaya Polyana, Director General of Rosa Khutor Sergey Bachin said in a letter to Sochi-2014 President Dmitry Chernyshenko.
Vnesheconombank stopped financing in January. Bachin requested postponement of construction completion by 2 months.
The bank promised 106.96 billion rubles, but has only paid 48 billion. Sberbank and Magomed Bilalov took loans from Vnesheconombank.Krasnaya Polyana owes 14.6 billion rubles, Oleg Deripaska’s Rosgibal owes 18 billion, Port Sochi Imeretinsky owes 4 billion.
Vladimir Potanin’s Interros is building an Olympuc Village, snowboarding and skiing center for 2,600 people for about 60 billion rubles, 50 billion of which were granted by the bank.
