Russian gov't allocates 53.7 bln rubles for Far East development
                 Source: Xinhua | 2018-06-19 03:54:49 | Editor: huaxia

This photo shows a view from the media center for the Asia-Pacific Economic Cooperation (APEC) summit in Vladivostok, Russia on September 6, 2012. (XINHUA/SIPA)

MOSCOW, June 18 (Xinhua) -- Russian Prime Minister Dmitry Medvedev signed an order allocating 53.7 billion rubles (around 846 million U.S. dollars) from the state coffers for the development of the country's Far East, the government said Monday.

The government aims to create "normal conditions" for people to come and work in the region, Medvedev said at a meeting with his deputies.

"We are talking about the construction of kindergartens, schools, colleges, hospitals, sports facilities and various other improvements, including roads, bridges, networks like heating and water supply, and transport infrastructure," he said, according to an official transcript.

The allocated funding is intended to implement 191 projects of construction, reconstruction, modernization and repair of social, transport and engineering infrastructure, a statement published on the government website reads.

The money will be allocated from the federal budget in 2018-2020, it reads.

The state funding of these regions will help accelerate the creation of social, transport and engineering infrastructure and improve the quality of life in the country's Far East, the statement reads.

Russia introduced a range of mechanisms in the last few years to develop its Far Eastern region.

It has granted several ports in the region the rights to become free ports, created the Far East Development Fund, provided infrastructure subsidies for investors to implement projects there, and introduced numerous tax breaks for foreign investors.

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Russian gov't allocates 53.7 bln rubles for Far East development

Source: Xinhua 2018-06-19 03:54:49

This photo shows a view from the media center for the Asia-Pacific Economic Cooperation (APEC) summit in Vladivostok, Russia on September 6, 2012. (XINHUA/SIPA)

MOSCOW, June 18 (Xinhua) -- Russian Prime Minister Dmitry Medvedev signed an order allocating 53.7 billion rubles (around 846 million U.S. dollars) from the state coffers for the development of the country's Far East, the government said Monday.

The government aims to create "normal conditions" for people to come and work in the region, Medvedev said at a meeting with his deputies.

"We are talking about the construction of kindergartens, schools, colleges, hospitals, sports facilities and various other improvements, including roads, bridges, networks like heating and water supply, and transport infrastructure," he said, according to an official transcript.

The allocated funding is intended to implement 191 projects of construction, reconstruction, modernization and repair of social, transport and engineering infrastructure, a statement published on the government website reads.

The money will be allocated from the federal budget in 2018-2020, it reads.

The state funding of these regions will help accelerate the creation of social, transport and engineering infrastructure and improve the quality of life in the country's Far East, the statement reads.

Russia introduced a range of mechanisms in the last few years to develop its Far Eastern region.

It has granted several ports in the region the rights to become free ports, created the Far East Development Fund, provided infrastructure subsidies for investors to implement projects there, and introduced numerous tax breaks for foreign investors.

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