Realization of investment projects within the framework of the program of North Caucasian Federal District development will start in 2012, the Russian president“s envoy Alexander Khloponin told journalists. The strategy consists of 2 stages, the first stage is 2010-2012, which involves spending approximately 75 billion rubles.
At the same time, Khloponin added that an institute of development will be established, based on Russia's Exterior Economic Bank (Vnesheconombank), to study the proposed projects (there are 2500 projects worth over 3.4 trillion rubles) and the organization of their financing. Selection and preparation of the projects will be held in 2011. They will be implemented in 2012.
The program is still under development by the government. It involves support for priority spheres such as agricultural, tourism and construction, and is aimed at solving the main problem — unemployment.
By 2020 they will have created approximately 400 thousand jobs, RIA Novosti reports.
