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Far East Development Fund has increased investment in regional projects

Far East Development Fund has increased investment in regional projects
Photo: pixabay.com

The Far East Development Fund has increased investments in regional projects by 54%. In 2019, their volume amounted to 16,64 billion rubles. With the participation of the FRDV, a passenger terminal was built at the airport of Khabarovsk, a new Sakhalin state district power station, and the country's first soybean insulator production was launched in the Amur Region.

According to the fund’s press service, five large industrial and infrastructure projects were included in the top ten most effective in terms of animated contribution to the development of territories. In 2019, funding for the Affordable Credit for SMEs program was increased, thanks to which more than 850 small and medium-sized business projects have already appeared in the Far East.

The total investment in projects implemented with the support of the FRDV has already exceeded 477 billion rubles. In 2020, it is planned to recapitalize the fund from the federal budget, thanks to which the fund's capital of 60 billion rubles will increase by more than a third. These funds will be used to finance new Far Eastern projects. It is known that about 15 billion rubles of the fund will be directed to the development of the Arctic direction.

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