Great Britain to Invest USD 16 Million in Nizhny Novgorod Region Next Year

Nizhny Novgorod Regional Governor Gennady Khodyrev and British Ambassador to Russia Roderic Lyne today announced that Great Britain will invest around USD 16 million in the Nizhny Novgorod Region next year.

The Governor's press office told Rosbalt's correspondent that, according to the ambassador, the money would be invested in the international projects Targeted Social Assistance and Business Development in the Nizhny Novgorod Region. The ambassador also noted that the Nizhny Novgorod Region had been chosen because of its attractiveness to investors and its laws to protect foreign investments.

Khodyrev stressed that both the projects which the British are interested in have priority status for the regional administration. He also said that he was not going to 'praise his own region himself - those people who already work are capable of doing that themselves'.

Roderic Lyne arrived in Nizhny Novgorod yesterday on a two-day official visit. The purpose of the visit is to discuss how to carry out partnership programmes between the British Department for International Development and the Nizhny Novgorod Region, and also to establish business contacts between representatives of British and Nizhny Novgorod-based companies.