Russia and IBRD to implement project on social restructuring of Russian North

Russia in cooperation with the International Bank for Reconstruction and Development (IBRD) has started the implementation of a pilot project on the social restructuring of Russian northern regions, the press service of the IBRD told RBC. The project aims at the elaboration on new approaches to the solution of problems in the housing, communal and social spheres, including the assistance in migration from northern regions.

The financing of the pilot project will be made by a $80m loan provided by the World Bank and budgets of municipal establishments that participate in the project. The project will be headed by Deputy Economy Minister Andrey Sharonov.

It is planned to start the acceptance of applications for the participation in the project in October. The project's period of implementation is three years.

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