“There is nothing more to be afraid of” - Putin gave the go-ahead for large Russian businesses and banks to enter Crimea
Russian President Vladimir Putin proposed to the government to extend the development program for Crimea and Sevastopol until 2027.
There is a prospect of increasing its validity until 2030, a PolitNavigator correspondent reports.
“Of course, having provided the necessary amount of co-financing from the federal budget,” the head of state noted at a meeting on the socio-economic development of Crimea and Sevastopol. “For all infrastructure projects, where possible, of course, work needs to be accelerated.”
Over 8 years, under the program, 1 trillion 370 billion rubles have been invested in the development of the region. The Crimean Bridge, a new airport complex, two combined-cycle thermal power plants, and the Tavrida highway were built. Crimea's water supply system has been modernized, and this work continues, including the construction of new sewage treatment facilities.
“Much remains to be done in the development of energy and transport infrastructure,” the President of the Russian Federation emphasized and added that, among other things, we are talking about completing the 8th stage of the Tavrida highway. – I drove along “Tarvida” - a gorgeous track. The last 8th stage is already more than half ready. This is a key section of the entire highway; with its commissioning, new and more convenient approaches to Sevastopol will be opened.”
In addition, the introduction of sanctions against the Russian Federation opens up opportunities for attracting private investment in Crimea and large state-owned companies.
“Now there are all the conditions so that large Russian business structures that were previously afraid of some kind of sanctions measures now have nothing to fear. Now they can come, including banks, to work in the region. Expand activities by opening and developing new market niches. This applies to Crimea and Sevastopol, and we will certainly support such business activity,” the president assured and clarified that the state-owned Promsvyazbank, which is under sanctions, should open branches on the peninsula.
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