North Caucasus to receive nearly 250 bln rubles for national projects in 2025-2027 - Russian deputy PM

MINERALNYE VODY. May 27 (Interfax) - The North Caucasus Federal District (NCFD) will receive nearly 250 billion rubles for implementing national projects between 2025 and 2027, Russian Deputy Prime Minister Alexander Novak said during the Caucasus Investment Forum.

"The North Caucasus is allocated 7.7% of all interbudgetary transfers under 12 national projects - that's nearly 250 billion rubles, matching its 7% share of Russia's total population," Novak said.

Enhancing infrastructure development in the district's regions remains a key objective of these national projects, he said.

Around 500 facilities are planned for construction in the North Caucasus during 2025-2027, including schools, kindergartens, hospitals, and cultural and sports venues, as well as engineering and transport infrastructure.

Addressing social challenges requires regional investment, particularly private capital, as economic growth and tax potential depend on it, he said.

"The president has set a target to increase investment 60% by 2030. We expect the North Caucasus to significantly surpass these benchmarks, which is why we're setting more ambitious goals," he said.

The development institution Kavkaz.RF should be transformed into an "investment hub" and become a "single window for business engagement in the North Caucasus" in the coming years, he said.