Russia to Allocate $20.7Bln for Development of New Regions in Coming Years - Putin

MOSCOW (Sputnik) - The Russian authorities will allocate almost 2 trillion rubles ($20.7 billion) in the coming years for the development of Russia's new regions, Russian President Vladimir Putin said on Friday.

"In the coming 2.5 years, I think, I it is planned to allocate almost 2 trillion rubles from federal sources alone for the development of these territories [Donetsk and Lugansk People's Republics, Kherson and Zaporozhye Regions] — 1.9 trillion rubles. This is decent money," Putin stated at a meeting with students.

The money is to be spent in accordance with the government's program for the socioeconomic development of Russia's new regions, adopted on April 27. The first stage, according to the president, is to bring the four new regions up to all-Russian levels in terms of social issues, including medical care, education and infrastructure development.

"These are ordinary things, but they are very important for people — they are utilities, road maintenance, restoration of higher education, cultural monuments, industry and agricultural facilities," Putin emphasized, listing the sectors that require attention.

The government's program is already being implemented. For example, the Russian government's Territorial Development Fund will repair more than 3,600 infrastructure facilities in Russia's new regions, according to the fund's statement released on Wednesday.

The fund plans to carry out 1,633 restoration works, including reconstruction of 1,145 residential buildings, 227 social facilities, 173 utilities, 41 transport infrastructure facilities and 47 other projects are to be completed in the four new Russian regions by the end of 2023, the statement read.

In late September 2022, Putin and the heads of the Donetsk and Lugansk People's Republics, as well as the Kherson and Zaporozhye Regions, signed agreements on the accession of these territories to Russia, following referendums that showed an overwhelming majority of the local population being supportive of this idea.