Russian state-owned company Resorts of the North Caucasus and French bank Caisse des Depots et Consignations will create a joint venture to develop tourism in the region.
      
       According to the agreement, France will help to build $2.84 billion worth of resorts in the North Caucasus. The joint venture will cooperate in the construction of ski slopes in Adygeya, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia and Dagestan. France is the first among others to decide to invest in the development of North Caucasus resorts.
      
       The French are ready to invest as long as the Russian government provides security guarantees, according to Kommersant.
      
       themoscowtimes.com
       kommersant.ru
       lenta.ruт