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RF gives top priority to broader financing of scientific research

October 26, 2011, 14:55 UTC+3
The president recalled that specialized funds and lending financial institutions, including Vnesheconombank, should be engaged in the financing of the works in nanotechnologies
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MOSCOW, October 26 (Itar-Tass) —— A broader financing program for fundamental scientific research in Russia is the top priority for the country that will allocate about eight billion dollars until 2014 for this purpose, Russian President Dmitry Medvedev said at a plenary meeting of the International Forum of Nanotechnologies on Wednesday. Scientists, businesspeople and experts from more than 50 countries are participating in the forum.

The president welcomed the specialists, including such prominent members of the world scientific community as President of the Massachusetts Institute of Technology Susan Hockfield and a legendary US scientist Eric Drexler, who is considered as the ‘father’ of nanotechnologies, who introduced the term in 1986.

Medvedev noted that Russia is developing the nanotechnologies in the right way, particularly because the infrastructure in this sphere “is under creation on the right basis,” and “the state component is supplemented with private business.” “The share of the RUSNANO state-run corporation always makes less than 50% in such projects,” he elaborated. The remaining share falls on private investors. Meanwhile, RUSNANO is seeking to withdraw from the projects of private companies at the stage when the developments gain some positions on the market. “The main mission of the state is to quit timely,” Medvedev noted.

He also noted a major role of international cooperation in this sphere, moreover, the investments in new high-technological developments is “a risky business.” In this respect, Medvedev find it important that a major innovation forum, which opened in Moscow, “will give a good platform for mutually beneficial and promising agreements and treaties.”

The president recalled that specialized funds and lending financial institutions, including Vnesheconombank, should be engaged in the financing of the works in nanotechnologies in Russia. The Vnesheconombank credit portfolio exceeds ten billion dollars in investment projects. The president also wished the business “to expand the scientific thinking of businesspeople along with the development of the scientific thought.”

Finally Medvedev pledged that the termination of the modernization programs in Russia is not in question, as some commentators are seeking to present it over coming parliamentary and presidential elections. “As for the modernization, we do not curtail anything and will keep building it up,” the Russian president underlined.

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