Russian Federation To Allocate 50 Billion Rubles For Territories Of Advanced Development

The Russian Federation is planning to allocate 50 billion rubles for the creation and development of the Territories of Advanced Development. According to the Russian Prime Minister, Dmitry Medvedev, 30 billion rubles will be sourced from the budget and another 20 billion rubles will come from alternate sources. The government is putting emphasis on the fact that these funds will be used in a productive manner and will not be channelled to dress-up existing projects. There will certainly be a focus on developing infrastructure in the Territories of Advanced Development, as infrastructure is key in facilitating the type of business and social growth the government aims to produce. The Prime Minister also reminded citizens that every ruble spent must be done in accordance with a long-term vision that will bring maximum stimulus to the residents within the regions targeted.