The Central Bank of Russia published a paper setting out a new regulatory approach to banks’ financing of public-private partnership (PPP) projects, aimed at easing the capital burden. The proposal would allow banks to reflect the possibility of state repayment of loans where this is provided for in a direct agreement between parties to a PPP project. The proposed regulation would apply only to PPP projects where the public partner is the Russian Federation or its constituent territories or municipalities with a national credit rating of at least A. Credit claims on PPP projects are planned to be recorded under the new rules starting from October 2026. The Central Bank of Russia invited responses to the questions in the paper and other comments and suggestions by 16 July 2025.
Central Bank of Russia 2025-06-10
Central Bank of Russia consults on new capital treatment for PPP project finance with rules planned from October 2026
The Central Bank of Russia proposed a new regulatory approach to ease banks' capital burden in financing public-private partnership (PPP) projects, allowing for state repayment of loans under certain agreements. The regulation applies to PPP projects involving the Russian Federation or its territories with a national credit rating of at least A, with new rules effective from October 2026.