MOSCOW: ‘ Dmitry Medvedev Promises 700 Billion Rubles Over Five Years for Development of Crimea and Sevastopol ‘

#AceFinanceNews – RUSSIA (Moscow) – August 07 – Russian Prime Minister Dmitry Medvedev has promised 700 billion rubles for the development of Crimea and Sevastopol.

​“The total volume of the program financing during the next five years will be almost 700 billion rubles, including 660 billion rubles from the federal budget,” he said at a Cabinet meeting on Thursday.

“The funds are huge, but our state budget can provide them he told Tass.

They, every ruble from them must be used with utmost efficiency to bring benefit to the Crimean residents and all other residents of our country,” the prime minister said.

Medvedev said that the federal target program “Socio-economic development of the Republic of Crimea and city of Sevastopol until 2020” should fully synchronize the life and further development of the new regions with the rest of Russia, he added.