Russia to increase financial aid, investment for Abkhazia economy
SOCHI. Nov 25 (Interfax) - The 2015-2017 investment program to develop the Abkhazian economy will cost over 9 billion rubles, Russian Deputy Prime Minister Alexander Khloponin told reporters on Tuesday in Sochi which is hosting a meeting of the intergovernmental commission for socio-economic cooperation.
After signing a bilateral cooperation agreement on November 24 Russia "has doubled its financial aid for the Republic of Abkhazia and a three-year investment program for 2015-2017, which has been increased to nine-odd billion rubles, not counting the current financial aid," Khloponin said.
"The current financial aid is being increased as well, and these funds will be used to raise wages for public-sector workers and to address other social issues," he added.
The meeting attendees acknowledged that the 2014 investment program targets will be fully met, the Russian deputy prime minister said. Construction of the Abkhazia University remains a transitional object, with funding due in 2015.
Also, the main objectives of the new investment program have been approved, Khloponin said. "Still, the emphasis has now shifted on further investment into the republic: we must create jobs, develop investment projects. For the first time this program has set aside 1.8 billion rubles to co-fund prospective investment projects," the deputy prime minister said.
It was resolved at the meeting that the main objectives of the new investment project for Abkhazia's development should be set before the first quarter of 2015.
For his part, Abkhazia's deputy prime minister Beslan Butba said that among the projects already implemented with Russia's help are the completion of a water pipeline in Gagry, a house of culture in Sukhumi and the Abkhazian Drama Theater.
