Ministry of Economic Development of the Russian Federation
Ministry of Economic Development of the Russian Federation
The Ministry of Economic Development will assist the regions in launching investment projects
22 September 2020 12:00

The priority task of the investment development Agency is to launch the IPPA mechanism, the Russian Minister of economic development Maxim Reshetnikov said at the meeting of the Federation Council Committee on Economic Policy. He noted that this issue is under control of the first Deputy Prime Minister of Russia Andrey Belousov.

"The set of projects is quite large. We are also launching a mechanism to finance infrastructure investments against future taxes. Also, in the Q1 2021, we will start creating a work system on regional projects," the Minister said.

As previously reported, the Investment Development Agency is being created to support the implementation of new investment projects in Russia. In particular, the Agency will prepare proposals for improving the relevant legislation. The Agency's tasks also include developing existing infrastructure for capital investment and providing other support to investors, including assistance in attracting financing for specific projects.

At the same time, as part of his speech, Maxim Reshetnikov touched upon the topic of regional budgets. "We understand that this year a significant amount of support was allocated, 300 billion rubles, of which 200 billion were transferred to the regions and one hundred billion are in reserve. The Government understands that regional support should be the focus of special attention. This is our common position with the Russian Ministry of Finance," the Minister commented.

Дата публикации: September 22, 2020
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