The Russian government will write off debts to 25 regions on loans of almost 43 billion rubles.

The Russian government has approved the possibility of writing off up to two thirds of budget loan debt totaling 42.7 billion rubles to Russian regions this year. The corresponding decree was signed on July 14 by Russian Prime Minister Mikhail Mishustin, the document was published on the official website of the Cabinet of Ministers.

"The debt will be written off to 25 regions. These are the Republic of Altai, Buryatia, Dagestan, Kabardino-Balkaria, Karachay-Cherkessia, Crimea, Mari El, North Ossetia, Tyva, Zabaikalsky, Perm and Khabarovsk Territories, Arkhangelsk, Bryansk, Kaluga, Kurgan, Novgorod, Omsk, Orel, Pskov, Samara, Sverdlovsk, Chelyabinsk, Yaroslavl and Jewish Autonomous Regions.", — the text of the document says.

It is specified that the amount of the write-off will correspond to the amount of funds that were allocated by these regions to implement measures in the social and economic spheres, including housing and communal services, relocation of citizens from dilapidated housing, renovation of public transport, recapitalization of industrial development funds, and others.

According to the decree, those regions that are part of the Far Eastern Federal District and the Arctic Zone will have their debts written off in the amount of funds allocated for the implementation of measures within the framework of master plans of cities located in these territories. It is added that such a measure will also affect subjects with low budget security, where the debt will be written off in the amount of funds allocated for the implementation of national projects.

Sorry, goodbye: debts were written off to three Russian regions

How the federal center helps the subjects of the federation

On July 8, it was reported that the Russian government would support investors who plan to implement projects in the border areas of the Bryansk, Belgorod and Kursk regions. The relevant measure will affect investors who will implement projects in the fields of manufacturing, agriculture, logistics, computer technology and software development.