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$500M for Moscow – Swiss boost hospitals

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The city of Moscow said it received a $500 million gift from two Swiss companies to renovate four hospitals in the capital, the Moscow Times reported on June 8.

The city said two companies – Terra Humana Foundation and Treuhand AG Zurich – will donate the money for medical equipment, building and reconstruction at four hospitals including a children’s medical center.

Moscow Mayor Yury Luzkhov said joint organizations would control the project, which he said would be “absolutely transparent.”

But a front-page article in the Moscow paper Kommersant already suggested the deal was illegal. “It’s possible to say with a high degree of certainty that the mayor was caught up with dubious businessmen and probably will not receive the money,” the article said.

The article said the projects outlined in the agreement would cost no more than $35 million, much less than the $500 million figure provided by the mayor.

City officials confirmed the agreement, but refused to provide details about the project.

For full text of the article, see the Moscow Times.

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