Russian gov't allocates 130 mln USD for Far East development
Russian Prime Minister Dmitry Medvedev signed a decree to allocate 8.4 billion rubles (about 130 million U.S. dollars) for projects in the Far Eastern Federal District, the government's official website said on Wednesday.
The money will be used for projects in natural resource extraction, transport development, social and energy infrastructure as well as industrial projects.
In particular, investment will be made to support the development of the Khabarovsk airport and the Nizhneleninskoye-Tongjiang railway bridge, as well as the modernization of port infrastructure.
The Primorye-1 and Primorye-2 transport corridors, the Inaglinsky coal complex and a pulp and paper plant in the Khabarovsky Territory will also be boosted.
In recent years, Russia has stepped up efforts to develop its Far East region. In addition to domestic investment, Russia launched the annual Eastern Economic Forum (EEF) in 2015 and has made it a platform for attracting foreign investment to beef up regional growth.