MOSCOW, January 27. /TASS/. Russian President Vladimir Putin has instructed the government to approve, by February 15, 2023, investment projects on the construction of water transport vessels which are co-financed by the National Wealth Fund, according to a list of instructions issued after a cabinet meeting on January 11 that was released on the Kremlin’s website on Friday.

"Considering the instructions given earlier to approve the certificates of investment projects that are co-financed by the National Wealth Fund at a rate not exceeding 1.5 per cent per annum, and stipulate <…> the construction of civilian water transport vessels and their provision on financial lease agreements concluded on special terms," the document said.

The president also requested the approval of certificates of investment projects to upgrade the fleet of civil aircraft that are also co-financed using the funds of the National Wealth Fund at a rate of 1.5% per annum.

Putin said in mid-December 2022 that the planned programs on subsidizing the leasing of aircraft and water transport had not been launched yet, adding that they need to be fully implemented. On January 11, 2023, Russian Deputy Prime Minister, Trade and Industry Minister Denis Manturov said at a cabinet meeting headed by the president that the decision on approving certificate of the investment project on subsidized leasing of domestically-produced aircraft had been fully endorsed.