| The rules for spending the investment fund have been determined The investment fund has not yet begun its work; even the regulatory framework for its existence was finally agreed upon by the “core” departments - the Ministry of Economic Development and the Ministry of Finance - only yesterday. However, the government is already convinced of its beneficial effect on economic growth. Moreover, officials are already ready to increase government injections in this way.
Next year the volume of the investment fund will be increased from 69.7 billion rubles planned for 2006. up to 95.8 billion rubles, and in another year it should reach 91.4 billion rubles. These figures were given yesterday by the deputy head of the Federal Agency for the Management of Special Economic Zones, Maxim Bystrov.
It was previously planned that the investment fund next year would amount to about 70 billion rubles. - as in the current one. However, the increase in funding corresponds to the scale of the government's investment plans. According to Economic Development Minister German Gref, regional heads promised to submit at least 15 applications to receive money from the investment fund. Previously, no more than five or six applicants were expected. “We did not expect that such a number of projects would be prepared in time,” the minister admitted. “This will seriously complicate the work of interdepartmental and government commissions, but this is great.”
Moreover, the minister is not at all embarrassed by the fact that there are only three days left before the deadline for submitting applications, and only one application has been officially submitted - from the Krasnoyarsk Territory to finance a project for the development of the Lower Angara region. Everything is going according to plan, the economic department is convinced. The bulk of applications will be submitted in these last days. According to Mr. Bystrov, the Ministry of Transport has a number of projects ready that require government investment. In particular, the construction of the Moscow-St. Petersburg expressway and the port in Ust-Luga. In addition, a project for the construction of an oil refinery in Nizhnekamsk is ready. However, those who did not have time to prepare applications have nothing to worry about. Access to government money will not be closed. German Gref promised that after the end of the first stage of the current competition, a new one will be immediately announced.
By the way, it was not easy to formulate applications. Regions and relevant departments prepared them without knowing the final requirements. Only the day before, the Ministry of Economic Development and Trade and the Ministry of Finance approved a methodology for assessing projects applying for financing from the investment fund. This document, in particular, sets out the conditions that the project must meet. An applicant for state money must have an investor who confirms his willingness to invest in this project.
In addition, the project must comply with the priorities approved by the Russian government. The implementation of the project should have a positive effect in the field of education, healthcare, increasing the availability of social services, resolving housing policy issues, increasing the level of environmental safety, or the effect of developing the scientific and technical potential of the region. At the same time, public funds can only be invested in the creation of infrastructure. “We are offered to participate in commercial projects, but we cannot spend money on it,” explained Mr. Gref.
The cost of a project applying for co-financing with the state must be at least 5 billion rubles. And it must receive a positive opinion from an investment consultant. Finally, the financial and budgetary effectiveness of the project is assessed.
However, the favorites of the competition mentioned above have been named more than once, and they don’t have to worry - they will definitely get government money. Vera SITNINA |
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