PRESS: Russian econ ministry offers to create infrastructure fund

MOSCOW, Nov 28 (PRIME) -- Russia’s Economic Development Ministry has offered to establish a state fund for investments in infrastructure projects, business daily Vedomosti reported Tuesday citing a roadmap by the ministry.

The ministry plans to borrow up to 300 billion rubles on the market for the fund in 2018–2020 by placing bonds backed by state guarantees. The fund will be granting capital to private concessioners.

The bonds would be serviced by means of current budget spending and redeemed partially from budget revenue including from the projects. Regions will have access to the fund.

Vedomosti reported that the measure will help the government to pay for infrastructure projects in installments.

(58.2773 rubles – U.S. $1)

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