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Russia increases financing of its Far Eastern regions to over $835m

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Russia increases financing of its Far Eastern regions to over $835m

The volume of investments in the Russian Far Eastern regions will exceed 50 billion rubles ($835 million) in the next three years, a Deputy Minister of Russia for Far East Development, Arthur Niyazmetov, told TASS news agency on Tuesday.

“Over the course of preparation of the budget for 2017-2019, the volume of the Far East financing has been increased compared to previous years. Every year, more and more money are allocated to fund the advanced development territories and to support investment projects,” he noted.

While in 2015 the amount was 3.2 billion rubles, this year,11.3 billion rubles were allocated to investment projects and 4 billion rubles were spent to support the advanced development territories.

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