Ministry of Eastern Development started developing a new state program for the Arctic


Ministry of Eastern Development started developing a new state program for the Arctic

“The Ministry of East Development of Russia has started to develop a new state program of socio-economic development of the Arctic zone of Russia. It is planned to prepare the document by the end of June", says the report.

The press service of the ministry explained to TASS that the state program will be built on the basis of the strategy of Arctic development until 2035, which has already been introduced to the Cabinet of Ministers. The strategy defines the main directions and objectives of the macro-region development, while the state program provides for specific steps and stages of its implementation.

The new document will include, among other things, mechanisms for investments attraction and job creations since they are not specified in the current state program. Particularly, it is planned to subsidize insurance premiums and rates on investment loans, support investment projects in the creation of infrastructure, to conduct other activities.

In addition, one of the subprograms will be dedicated to the development of settlements, necessary for ensuring national security or serving as a basis for the development of mineral resource centers, the implementation of economic or infrastructure projects in the Arctic. “The state will support the development of social infrastructure in the settlements where new industries will appear”, explained the press service.

New mechanisms for the development of the Arctic zone of Russia are in work now. The basis of the Russian state policy in the Arctic until 2035 has already been approved, and the Cabinet of Ministers is considering the strategy of the macro-region development for the same period. The State Duma is also considering a package of bills on benefits for investors who plan to implement new projects in the Arctic. 

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