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National Wealth Fund charts $12 billion allocations for infrastructure projects

July 07, 2014, 13:53 UTC+3 MOSCOW
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MOSCOW, July 07. /ITAR-TASS/. Russian government is prepared to allocate 420 billion roubles ($12.2 billion) from the National Wealth Fund to implement infrastructure projects, two of which can be launched already this year, Minister of Economic Development Aleksey Ulyukayev reported to President Vladimir Putin on Monday.

“The Federal Wealth Fund envisages around 420 billion roubles for projects which passed all required stages of preparation,” he said, adding that two projects can be started already in current third quarter or later this year.

“Funding has not practically begun yet, but I believe that already in the third quarter works will begin already this year in two projects, including that in railway traffic and another one in information technologies that envisages the so-called elimination of digital gap,” Ulyukayev added.

For his part, Putin noted that quite large financial resources were in view. “It is just needed to prepare these projects timely and qualitatively,” the president said.

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