EBRD okays $5.5 mln to clean up Russian toxic waste

MOSCOW - The European Bank for Reconstruction and Development said yesterday it had approved a $5.5 million loan to clean up a major toxic waste dump near Russias second city of St Petersburg. The eight-year loan would help city authorities build new storage facilities, a drainage system and a liquid waste treatment plant at the Krasny Bor dump, which threatens not only Russias northwest region, but also neighbouring countries. "I had a chance to see the appalling threat the entire region would face if no action were taken over these huge lakes of black industrial sludge," the EBRD quoted its president Jean Lemierre as saying in a statement. Krasny Bors open air reception pools have accumulated over 1.5 million tonnes of unidentified hazardous waste since the dump started work in 1970 and its capacity to absorb more toxic waste was expected to run out within few years, the banks said. REUTERS NEWS SERVICE