PRESS RELEASE

It has come to our attention that certain misleading and false information regarding alleged embezzlement in the Rooppur NPP project keep circulating in Bangladesh media despite two press releases issued earlier by Rosatom State Corporation to refute these ungrounded statements. In order to put an end to further absurd speculations on the subject, it seems necessary to clarify the mechanism of utilization of Russian export credits and the amount of money already spent on the construction of the Rooppur NPP.

As of September 3, 2024, approximately 7.8 billion USD out of 11.9 billion USD provided by Russia to Bangladesh under state export credits for the implementation of Rooppur NPP project, has been utilized. This amount includes transactions under two separate agreements: 491.3 million USD under the first agreement dated January 15, 2013 (this credit amounted up to 500 million USD, and its utilization period expired in 2017), and 7.3 billion USD under the second agreement dated July 26, 2016. The full amount of the second export credit is 11.38 billion USD out of which 64% has been used, and its utilization period expires on December 31, 2024.

The lack of the very opportunity for any corruption on the Rooppur NPP project can be proved by the fact that, according to the laws [1] of the Russian Federation, the provision of any state export credit does not imply direct transfer of funds to the sovereign borrower. The financing of any goods, works or services provided to a foreign customer under the export agreement is conducted by the Russian Ministry of Finance in Russian currency (rubles) directly to the concerned Russian exporting companies. These transactions are made based on the documents provided to the Russian Ministry of Finance that have been previously approved by the authorized agent specializing on international agreements – VEB.RF (Vnesheconombank). The utilized amounts of state export credits are considered as debt of the foreign state borrower before the Russian Federation.

All in all, we believe that those who produce and spread fake news about the alleged embezzlement at the Rooppur NPP deliberately attempt to discredit this ambitious project and to undermine steady and mutually beneficial relations between Moscow and Dhaka.

[1] Order of the Government of the Russian Federation №1456-50 “Regarding the Rules of the Provision of State Export Credits to Foreign State Borrowers by the Russian Federation” dated September 16, 2020).