Financing of federal program of transport development to grow by 31% in 2003

The special federal program of development and modernization of transport in Russia provides for investments of RUR313bn ($9.86bn) in 2002. Russian Transport Minister Sergey Frank announced this information at a news briefing today. According to him, the program covers all transport sectors. 25% of the funds to be allocated within the framework of the program will be received from the federal budget, 30% will come from the regional budgets, and the rest of the sum will be received from off-budget sources. According to Frank, the main projects of 2002 were the openings of a tunnel on the Chita-Khabarovsk highway and a ferry line in Makhachkala, as well as the putting into service of 21 civil aircraft and 12 sea-going ships.

It is planned to increase the financing of the special federal program by 31% in 2003 compared to that of 2002. Special attention will be paid to the modernization of transport security systems. The renewal of the civil aircraft fleet and sea-going ships will be continued.