Russia plans to spend $459m on urban redevelopment

Russia plans to spend $459m on urban redevelopment
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This year, 27,2 billion rubles (approximately $459 million) will be allocated from the federal and regional budgets to redevelopment of public spaces and parks, as well as to repair and modernization of courtyards in Russian cities.

This is what Minister of Construction, Housing and Utilities of Russia, Mikhail Menn, said on Wednesday following the results of a seating of the Presidium of the Presidential Council for Strategic Development and Priority Projects.

According to Mikhail Menn, 20 billion rubles have already been allocated from the budget for the purpose of subsidizing regional programs for the creation of comfortable urban environment in the subjects of the Russian Federation. The corresponding agreement is scheduled to be concluded with the Construction Ministry of Russia until the 1st of march this year.

Mikhail Menn noted that over 12,000 municipalities would start implementation of the urban redevelopment program in 2017.