The social and economic development of the North Caucasus is an important means to normalize the situation in the region, Russian Prime Minister Vladimir Putin said at a meeting on the North Caucasus Federal District, ITAR TASS reports.
"Our aim is to change the situation in North Caucasus drastically, to increase the quality of life, to create attractive conditions for investment and potential business projects," he said.
The total amount of financing is about 600 billion rubles, the president's envoy in the North Caucasus Federal District, Alexander Khloponin stated.
In November, the corporation for social and economical development of the North Caucasus region is due to start work. Its main task is to find investment from Russian and foreign companies.
