New transport infrastructure in Russia will be created from a US$4.178 billion (RUB 130bn) federal budget pot for boosting transport, energy supply, communications, utilities, and safety infrastructure ahead of the country hosting the 2018 FIFA 1556 World Cup.
Meanwhile, a further US$3.857 billion (RUB 120bn) is to be spent on the reconstruction of sport facilities ahead of the international football showpiece event.
To pay for the huge infrastructure spending the Russian government is reported to have ordered the Sports Ministry, the Ministry of Regional Development, the Finance Ministry, the Ministry of Communications, the Energy Ministry, and other institutions to look at the possible use of money from the National Wealth Fund, which accumulates funds to cover deficit in the country’s Pension Fund.
The Moscow Airports may require additional financing. Amendments to the program of 2018 FIFA World Cup preparations must be introduced until 22 May 2013. The National Wealth Fund had RUB 2.70tn as of 1 April 2013. The infrastructure programme was due to be approved and launched in June 2013.
Meanwhile, a further US$3.857 billion (RUB 120bn) is to be spent on the reconstruction of sport facilities ahead of the international football showpiece event.
To pay for the huge infrastructure spending the Russian government is reported to have ordered the Sports Ministry, the Ministry of Regional Development, the Finance Ministry, the Ministry of Communications, the Energy Ministry, and other institutions to look at the possible use of money from the National Wealth Fund, which accumulates funds to cover deficit in the country’s Pension Fund.
The Moscow Airports may require additional financing. Amendments to the program of 2018 FIFA World Cup preparations must be introduced until 22 May 2013. The National Wealth Fund had RUB 2.70tn as of 1 April 2013. The infrastructure programme was due to be approved and launched in June 2013.
