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Mikhail Babich, First Deputy Minister of Economic Development of Russia, entered into an agreement with Igor Akhba, Ambassador Extraordinary and Plenipotentiary of the Republic of Abkhazia, and Znaur Gassiev, Ambassador Extraordinary and Plenipotentiary of the Republic of South Ossetia.
The parties agreed upon the implementation of budgetary investments and support for investment activities of the republics.
For implementing the socio-economic development of the republics, the Russian side is expected to fulfil its obligations under the previously signed agreements on alliance and strategic partnership with the republics of Abkhazia (November 24, 2014) and South Ossetia (March 18, 2015).
These include financing the construction of infrastructure assets for the socio-economic development of the republics in the fields of culture, education, health and public administration.
“New bipartite agreements with the republics are another step for the further development of Russian contractual legal framework with South Ossetia and Abkhazia, which will make a significant contribution to the development of the republics and improve the quality of life of their residents,” Mikhail Babich commented.