EU to allocate funds for land reform in Russia

The European Union has allocated €3.4 million to support the land reform in Russia, reads the press release of the European Commission's delegation in the country.

The project intended for 30 months is financed within the TACIS programme. Its main goals are to contribute to working out a consistent strategy of the land reform and a new practice of taxation of land and real estate, to improve the mechanisms of stimulating investment land turnover.

The TACIS is the EU programme that supports the development of market economy and democracy in the countries of East Europe, the Caucasus and Central Asia by sharing experience and know-how in different spheres gratuitously.

Since 1991 the programme has allocated about €2.6 billion for grants aiming at fulfilling over 1500 projects in Russia.