Regions of Russia: The World Bank continues working partnership with Russia for its cultural heritage

The World Bank’s Board of Executive Directors have recently approved a US$ 100 million loan for the Preservation and Promotion of Cultural Heritage Project for the Russian Federation.

The main objective of the Project is to support the rehabilitation and improvement of cultural heritage sites and institutions, conservation, safekeeping and promotion of cultural heritage assets in four of the country’s oblasts (regions), including Leningrad, Pskov, Novgorod, and Tver oblasts. The Project will also help the participating oblasts to strengthen their internal capacity for cultural heritage management so that it could foster socio-economic development arising from the opportunities of cultural tourism. The Project builds on know-how and operations experience of the St. Petersburg Economic Development Project and its predecessor, the St. Petersburg City Center Rehabilitation Project.

According to World Bank, the Project is in line with the key objectives of the Concept for the Long-Term Social and Economic Development of the Russian Federation until 2020, which refers to culture as one of the strategic sources for economic development, and to Russian regions’ cultural potential. Leningrad, Pskov, Novgorod and Tver oblasts - being located between St. Petersburg and MOSCOW - are rich in history and in national historic landmarks that are of universal significance. The Project aims to assist the Russian Government in its efforts to improve protection of Russia’s moveable cultural property by upgrading collection management, conservation and storage facilities, and museum security practices.