9 February 2012: The European Bank for Reconstruction and Development (EBRD) has announced it will provide up to 3 billion roubles (€75 million) to modernize and increase energy efficiency in Far East Russia.

The proceeds of an EBRD 16-year loan will be allocated to a capital investment programme aimed at improving the energy efficiency of district heating systems in the Republic of Sakha, also known as Yakutia, a permafrost area of Far East Russia where the heating season lasts 10 months a year and winter temperatures drop to -50ºC for extended periods. According to EBRD, the cost of heating services per square metre in Yakutia is the highest in Russia, with fuel and transport accounting for 75% of such operational costs.