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19 Oct, 2013

Russia to Spend $63Bln on Arctic Development – RIA Novosti

MOSCOW, October 18 (RIA Novosti) – Russia plans to spend 2 trillion rubles ($63 billion) by 2020 on a strategic program to develop the Arctic, a senior government official said Friday.

Regional Development Minister Igor Slyunyayev said the draft program for economic and social projects in the Arctic could be submitted to the Cabinet by November 1. The government expects more than half the costs to be met by major Russian companies, he said.

Read the rest: Russia to Spend $63Bln on Arctic Development | Russia | RIA Novosti.