PM: Govt to give 10 bln rbl to new fund of promising technologies

MOSCOW, Aug 2 (PRIME) -- The Russian government will allocate 10 billion rubles to a newly created fund of funds of promising industrial and infrastructure technologies, Prime Minister Mikhail Mishustin said on Monday at a meeting with his deputies.

“In order to fulfil the president’s decree, a special fund of funds of promising industrial and infrastructure technologies was created. It will function on the public-private basis as an investment partnership,” Mishustin said.

The fund will have two key goals, which are to stimulate investment in high-tech projects and maintain development of the priority industries of the country’s economy, the prime minister said.

“As the government’s contribution, we’ll give 10 billion rubles, and private money will be provided in the same volume. It will form a solid resource needed to elaborate and launch different technological new projects,” he said.

(73.1388 rubles – U.S. $1)

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