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Putin vows to continue providing financial support to South Ossetia

November 14, 20:05 UTC+3

A new investment program for 2018-2019 has been prepared, the Russian president said

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NOVO-OGARYOVO, November 14. /TASS/.Russia will continue to provide financial support to South Ossetia, a new aid program will be endorsed in the near future, Russian President Vladimir Putin said following talks with his South Ossetian counterpart Anatoly Bibilov.

"We discussed in detail the implementation of the investment program for 2015-2017. A reminder that Russia has earmarked 7.6 bln rubles ($128 mln) for its implementation," the Russian leader said. "I want to stress that Russia will continue to allocate resources for the development of the republic. A new investment program for 2018-2019 has been prepared, which will be endorsed in the near future."

In general, Putin noted stronger trade and economic ties between the two countries. He recalled that Russia is South Ossetia’s key foreign trade partner.

To confirm that, he cited statistics concerning the growth of mutual trade, which grew 50% during the first nine months of this year compared to the same period last year. Exports of South Ossetian goods to Russia have grown by more than one-quarter. The bilateral intergovernmental commission was tasked with taking additional steps to promote trade, exports and imports.

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