en.Wedoany.com Reported - The Russian government has announced the write-off of two-thirds of budget loan debts for eight regions (the Udmurt Republic, Volgograd Oblast, Moscow Oblast, Nizhny Novgorod Oblast, Novgorod Oblast, Novosibirsk Oblast, Ryazan Oblast, and Chelyabinsk Oblast).

The total amount of this relief exceeds 48 billion rubles, matching the investment volume of these regions in modernization projects. The debt relief funds are allocated to key projects in the housing and utilities sector, including replacing elevators in multi-apartment buildings, relocating residents from dilapidated housing, and updating public transportation. Additionally, funds are used to support the development of key settlements, expand special economic zones, and replenish regional industrial development funds.

This policy enables regions to reallocate freed-up financial resources to priority social tasks and infrastructure projects. Russian Prime Minister Mikhail Mishustin stated that the decision contributes to sustainable economic development and helps improve citizens' well-being.

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