Source: Russia’s strategic initiatives agency to support 200 projs/yr

MOSCOW, Jul 26 (PRIME) — Russias Agency for Strategic Initiatives plans to provide support to 100200 innovative projects per year, a government source told reporters Tuesday.

The agency is expected to start operating in SeptemberNovember, as the procedures required for its creation are planned to be completed in August, the source said. The agencys capacity could amount to 100200 projects per year within 18 months from the start of operations, he added. The agency also expects regional branches to be created.

Specifically, the agency plans to provide medium-sized businesses with assistance in preparing business plans and financial models for their innovative projects, which are needed to receive financing. Certain projects, chosen by the agency, could receive financing from Russias state-owned Vnesheconombank (VEB).

On Wednesday, Russias Prime Minister Vladimir Putin, who announced the creation of the agency in late May, plans to hold a meeting with newly elected members of the agencys expert council, as well as announce those who won contests to become directors of the agencys four main business areas.

VEB plans to invest 100 million rubles to start the agencys operations.

(27.7413 rubles U.S. $1)


Leave a comment