The North Caucasian Federal District will start forming a development bank in September to allow implementation of future investment projects, RIA-Dagestan reports.
The presidential authorized envoy, Alexander Khloponin, met Cossacks of the Tersko-Malkinskiy district in the city of Prokhladniy in Kabardino-Balkaria, ITAR-TASS reports. He said that the bank will firstly consider the projects presented in Kislovodsk. He added that there are decisions to be made about pre-capitalization of the investment fund by 6 billion rubles. Moreover, the government guarantees that 70% of the credits needed for realization of these projects will be provided by the Russian Finance Ministry.
Khloponin expressed hope that the projects will launched in the near future. He believes that they have higher chances in Kabardino-Balkaria, due to their advanced level of pre-development.
