SOCHI, May 3. /TASS/. Russia is going to invest in restoration of the infrastructure of South Ossetia, Russian President Vladimir Putin said at a meeting with the republic’s newly-elected President Anatoly Bibilov on Tuesday.

"Russia is co-financing many social projects (in South Ossetia - TASS). We will continue doing it and we will also develop our investment activities. Here I am talking about restoration of the republic’s infrastructure and creation of conditions for economic growth," Putin said, speaking about joint programs of cooperation on security, social and economic development.

The Russian leader reminded that the two countries are now implementing an agreement on strategic partnership and expressed hope that under the leadership of Bibilov the republic will do its best to fulfill the treaty.

"I would like to congratulate you on the results of the elections. I know that you are an advocate of development of full-fledged relations with Russia," Putin told Bibilov.

Bibilov, South Ossetia’s parliamentary speaker, won the April 9 presidential election in the first round, securing 54.8% of the vote. He stressed that he remains an active supporter of South Ossetia’s joining Russia and the reunification of the Ossetian people.

Abkhazia and South Ossetia were recognized by the Russian Federation on August 26, 2008 after Georgia attacked South Ossetia in early August 2008.

Abkhazia backed Russia’s operation to coerce Georgia into peace and asked Moscow to recognize its sovereignty. After the 2008 conflict Moscow declared that it would formally recognize the independence of both South Ossetia and Abkhazia. Russia's allies Nicaragua and Venezuela followed the suit, as did a number of small Pacific island states.