The Caucasus has contributed almost 17 billion rubles for the development of tourist complexes

© RIA Novosti / Olga Molchanova the Church of Archangel Michael in the center of Grozny. Archival photoThe Caucasus has contributed almost 17 billion rubles for the development of tourist complexes© RIA Novosti / Olga Molchanova

Prime Minister Dmitry Medvedev signed a decree on the allocation of almost 17 billion rubles for the repair, construction and design of objects all-season tourist complex in the Caucasus in the period from 2018 to 2021, according to a document published on the website of the Cabinet.

«Approved targeted (site-specific) distribution of budgetary investments from the Federal budget, provided by JSC «Resorts of the North Caucasus» in 2018-2021 years on capital investments in the design and construction of all-season tourist and recreational complex «Arkhyz» (Karachay-Cherkess Republic), «Veduchi» (Chechen Republic) and «Elbrus» (Kabardino-Balkaria)», — stated in the explanatory note to the document.

From the decree follows that the total volume of budget investments envisaged in 2018 on the implementation of the project is 4,28 billion, in 2019-2021 years – 4.5 billion annually.

It is noted that the subprogramme «Development of tourist cluster in the North Caucasian Federal district» of the state program «Development of Severo-the Caucasian Federal district» for the period until 2025 provides for the implementation of the consolidation of the investment project «Creation of infrastructure of special economic zones of tourist cluster in the North Caucasian Federal district». Funds provided for these purposes in the Federal budget for 2018 and the planning period of 2019 and 2020.

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