Russian ministry to allocate one billion rubles for 20 LPR projects
The Russian Ministry of Industry and Trade is allocating one billion rubles to implement more than 20 job-creating projects in the Lugansk People’s Republic, an official said at a round-table discussion in Lugansk.
“The Ministry has earmarked 11.2 billion rubles in 2023 in systemic allocations to fund socio-economic and industrial development <...> In 2023, we’ll support more than 20 projects in the LPR worth one billion rubles and create 300 jobs,” said Russian Deputy Minister of Industry and Trade Alexey Besprozvannykh via video link.
Besprozvannykh said that in order to take advantage of state support measures, the enterprises in the new regions have to complete registration as Russian taxpayers.
“We are creating new incentives for you, exemptions for the new regions. <...> You can count on funding from the Industrial Development Fund, at a ratio of 10 to 90, with 10 percent contributed by the region and 90 percent by the Russian Federation. This is an individual condition for the (new) regions,” he said.
The Lugansk People’s Republic, Donetsk People’s Republic and Zaporozhye and Kherson regions acceded to Russia on September 30, 2022 following the unification referenda.*i*v