Vneshekonombank to allocate 20 billion roubles to Chechnya

Russian state-run bank Vneshekonombank is going to allocate 20 billion roubles to Chechnya in order to support the construction of the Veduchi resort, Gazeta.ru cites Interfax as saying.

The head of the republic, Ramzan Kadyrov, says he is very optimistic about the project. "Thousands of tourists will visit this resort soon," he says.