Russia to spend over 19 billion rubles on Arctic development
© Mikhail Fomichev

Russia to spend over 19 billion rubles on Arctic development

Russia has allocated about 19.5 billion rubles for a program for the socioeconomic development of the Arctic up to 2024; over 3 billion rubles of that amount is earmarked for 2021, according a government resolution.

The resolution stipulates total government spending on the program in excess of 19.5 billion rubles, including 3.4 billion rubles in 2021, 6 billion in 2022, 5.2 billion in 2023, and 4.9 billion in 2024.

The Ministry for the Development of the Russian Far East and Arctic has been appointed the operator responsible for the implementation of the program.

“The objectives of this subprogram include speeding up the economic development of the regions located in Russia’s Arctic zone; increasing those regions’ contribution to the country's economic growth; and ensuring the right conditions for sustainable socioeconomic development of the macro region,” the document says.

The program also involves developing the Arctic zone as a strategic resource base and its rational use to accelerate economic growth, and the development of the Northern Sea Route as a competitive national transport artery in the world market.

The document also focuses on environmental protection, and the protection of the original environment and traditional ways of life of the indigenous minorities.

In October 2020, President Vladimir Putin signed the Strategy for Developing the Russian Arctic Zone and Ensuring National Security until 2035.