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Dagestan and Ingushetia to Receive 4 Trillion Rubles Towards Development
26.07.2011 16:54
Dagestan and Ingushetia to Receive 4 Trillion Rubles Towards Development
North Caucasus

The Ministry of Regional Development has prepared a development plan for North Caucasus. According to it, the development of the region will cost 3.9 trillion rubles and will have finished by 2025. This budget exceeds ten times what is currently spent by various federal programmes in the region.


The larger part of development fund will come from the state budget; 1 trillion rubles is expected to come from private investors.


Currently there are three key federal programmes of regional development, directed at the south of Russia, Chechen Republic, and Ingushetia. The amalgamation of these three plans into one state programme is necessary to better control the realisation of projects. A complete draft version of the plan will be presented to the Government by August 1.


About 1.2 trillion rubles will be invested in Dagestan, where it is also expected to attract the majority of private investment. In Stavropol region and in Ingushetia it is presently not planned to bring in private funding.


A separate financial support is to be given to North Ossetia and to the Caucasian Mineral Waters. The latter, renowned for its salubrous natural fonts, is planned to be developed as the Russian analogue of Karlovy Vary resort.



Author: Julia Shuvalova

Tags: Russian economy North Caucasus    

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