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Russian government earmarks 19 billion rubles for subsidizing research projects in 2014-16

April 10, 2014, 10:37 UTC+3 MOSCOW
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MOSCOW, April 10. /ITAR-TASS/. Russia's government has earmarked 19 billion rubles for subsidizing research, design, and engineering works in the 2014-2016 period, says a report placed on the Cabinet's website on Thursday.

The report reads as follows, "The Russian Ministry of Finance has been assigned to earmark 19 billion rubles in federal budget appropriations for these purposes in the 2014-2016 period, including 5.7 billion rubles in 2014, 6.65 billion in 2015, and 6.65 billion in 2016. The above amounts of financing are envisaged by the Federal Law 'On Federal Budget for 2014 and the 2015-2016 Plan Period'."

The subsidies are provided for terms ranging from one to three years. Provision is also made for co-financing of projects on the part of organizations participating in a competition in an amount of not less than 100% of a subsidy.

The decision is expected to promote the establishment and development of hi-tech production plants being organized within the scope of cooperation between Russia's higher education organizations and state-run research institutions and entities, the document points out.

The decision to extend subsidizing was taken with due regard for the successful experience gained in the 2010-2012 period in supporting hi-tech production processes being organized within the scope of cooperation between Russia's higher education organizations and state-run research institutions and entities.

In the 2010-2012 period, 87 companies and 62 higher learning establishments implemented 91 comprehensive projects worth 15.3 billion rubles with co-financing amounting to 19.9 billion rubles. Ninety-eight projects were selected as a result of the 2012 competition. It is expected that their implementation, the worth of new and modified hi-tech output by 2017 will be up to 743.6 billion rubles.

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