The Russian government has only paid 24% of 100 billion rubles of state guarantees for investment projects in the North Caucasus, as stated by Russian Plenipotentiary Presidential Envoy to the North Caucasian Federal District Alexander Khloponin at the 2nd interregional forum of the largest companies of the Caucasus, RIA Novosti reports.
Khloponin explained that reception of money via state guarantees was complicated, receiving cash in banks was much easier.
Simplified schemes will be introduced to the government. Preparations of the state program for North Caucasus development is planned to be concluded in late 2012.
100 billion rubles of state guarantees were provided for investors of the Northern Caucasus resorts. Issuing of state guarantees started in June. They were postponed in 2011. According to statements in May 2011, guarantees were offered to at least 300 million rubles issued for 3-10 years for realization of projects in the NCFD. State guarantees cover a maximum of 70% of a loan sum.
Formation of special economic zones for recreation and tourism in Russia’s South is being managed by the Northern Caucasus Resorts according to the government’s decree N833 of October 14, 2010. According to the document, there will be 5 world-class ski resorts formed in 2011-2020: Lagonaki (Krasnodar Territory and Adygeya), Arkhyz (Karachay-Cherkessia), Elbrus-Bezengi (Kabardino-Balkaria),Mamison (North Ossetia - Alania), Matlas (Dagestan), Tsori and Armkhi (Ingushetia) and beach resorts on the Dagestani coast of the Caspian Sea. Hotels will have rooms for 89,000 people, resorts will have a capacity of 150,500 visitors annually. Over 330,000 workplaces will be opened.
