Russia to invest $85 million in South Ossetia in 2014

Russia will provide 2.8 billion rubles ($84.9 million) in 2014 for the investment program to support the socio-economic development of South Ossetia, Alexander Khloponin, deputy prime minister of Russia and Russian presidential envoy in the Northern Caucasus Federal District, who leads the Russian part of the Intergovernmental Commission, said after the ninth meeting of the Commission in Tskhinval.

Russia will provide 2.8 billion rubles ($84.9 million) in 2014 for the investment program to support the socio-economic development of South Ossetia, Alexander Khloponin, deputy prime minister of Russia and Russian presidential envoy in the Northern Caucasus Federal District, who leads the Russian part of the Intergovernmental Commission, said after the ninth meeting of the Commission in Tskhinval.

"We summed up the results of the work done in 2012-2013 and made plans for 2014 and the subsequent years. The plan for 2013 has been fulfilled in full and was fully financed. In 2014, we intend to send to the republic investment in an amount of 2.8 billion rubles, mainly for the completion of the construction of objects and for putting them into operation," Khloponin said.

The ninth meeting of the Intergovernmental Commission has been held in Tskhinval. The meeting addressed issues relating to the financial assistance provided to South Ossetia by Russia to support its socio-economic development and the implementation of the investment program to support the socio-economic development of South Ossetia in 2012-2013.

The meeting participants also discussed the formation of the investment program for 2014-2016 and the improvement of South Ossetia's legislation.

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