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South Ossetia fully implements its investment program for first time since 2009

December 10, 2014, 20:59 UTC+3 MOSCOW

“We will complete 31 out of 32 planned events before December 25," Russian Vice-Premier Alexander Khloponin said

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Russian Vice-Premier Alexander Khloponin

Russian Vice-Premier Alexander Khloponin

© Artyom Geodakyan/TASS

MOSCOW, December 10 /TASS/. South Ossetia has fully implemented an investment program of assistance to the socio-economic development of South Ossetia for the first time since 2009, Russian Vice-Premier Alexander Khloponin told TASS on Wednesday.

“We will complete 31 out of 32 planned events before December 25. We used to have problems linked to preparation, lack of experience in interaction or lack of expertise. For the moment, we have established full interaction with South Ossetian authorities,” Khloponin clarified.

In his speech at the annual final meeting of the inter-governmental commission for socio-economic cooperation between Russia and South Ossetia, the head of South Ossetian government, Domenti Kulumbegov, said that 2.8 billion rubles ($51 million) had been spent on these purposes; another 800 million rubles ($14.5 million) had been spent on finishing stalled construction projects left over from previous development programs.

According to Khloponin, about 9 billion rubles ($164 million) would be allocated under the investment program before 2017.

“Today, we have managed to agree on a list of facilities, which still need to be restored or built anew. They include the buildings of the National Museum, the Drama Theatre and the State University. We are going to build schools, kindergartens and apartment buildings and fully renovate the engineering infrastructure,” Khloponin added.

An investment program’s new stage (2015-2017) envisages the construction of economically profitable enterprises in South Ossetia. The Russian Ministry for the Affairs of North Caucasus will regulate the investment program’s implementation.

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