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Russian government establishes fund for IT development

January 27, 10:47 UTC+3 MOSCOW

The newly-established structure will help promote Russian software locally and internationally

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© Yuri Smityuk/TASS

MOSCOW, January 27. /TASS/. Russia’s Prime Minister Dmitry Medvedev has signed a decree on creation of a fund for IT development, according to the report published on the government’s website on Friday.

"The fund is being established with the aim of Russian software development and promotion, as well as support for scientific, research and development, innovation activities and expansion of innovative infrastructure in the area of information and communication technology in the fund’s organizational and legal field," the report said.

The newly-established structure will help promote Russian software locally and internationally, as well as ensure cooperation with big potential customers.

According to the report, the regulation will not require additional funds from the federal budget behind those stipulated by the federal budget law, to be enacted.

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