The Russian government is preparing amendments to increase investment in regional construction projects

Deputy Prime Minister Marat Khusnullin chaired a meeting of the Presidium of the Government Commission for Regional Development. The meeting was attended by the Minister of Construction and Housing and Utilities Irek Fayzullin, representatives of the Ministry of Finance, the Ministry of Economic Development, the Fund for Assistance to the Reform of Housing and Utilities and heads of regions. Proposals on measures aimed at the development of the regions were discussed. The main topic was the preparation of a list of instructions based on the results of the message of the President of the Russian Federation Vladimir Putin to the Federal Assembly.

Marat Khusnullin spoke about infrastructure budget loans that will attract private investment to the regions and create new jobs. He stated that amendments are being prepared jointly with the Ministry of Finance, which will make it possible to receive such loans. Funds from the budget will be allocated for the implementation of projects selected at the federal level that will help achieve national goals, primarily in housing construction. The Deputy Prime Minister stressed that a number of pilot regions have been identified for the implementation of the infrastructure bonds mechanism. He noted that this mechanism will be used for the implementation of complex projects.

Marat Khusnullin also mentioned that the possibility of using funds of the National Welfare Fund (NWF) for the implementation of projects in the housing and communal services sector is being considered, and instructed the Ministry of Construction, the Ministry of Finance and the Fund for Housing and Utilities to work out a mechanism that would allow the use of NWF funds.

Turning to the topic of road construction, the Deputy Prime Minister reminded the heads of the regions of the need to create a backbone network of roads and advanced construction, for which additional funds were allocated.

“The key task is to fulfill the presidential decree by 2024 to bring up to 85% of roads in the largest agglomerations to the norm. Another task is to bring up to 60% of regional roads to a standard state. It is necessary to develop three-year action plans to achieve these indicators,” stated Marat Khusnullin.