From 2027 to 2036, the Russian government plans to allocate more than 8 billion rubles for infrastructure development in the Magadan region

It is planned to allocate 41.4 billion rubles from the federal budget for the implementation of long-term projects involving the social development of economic growth centres in the Far Eastern regions in 2027-2037. The decree was signed by the Chairman of the Government of the Russian Federation Mikhail Mishustin. It will guarantee federal co-financing of projects implemented under the Far East concession.

This involves the construction of kindergartens, schools, cultural and sports facilities, as well as engineering networks and communications for businesses and residential buildings.

"The funds will be used for co-financing of expenses in the implementation of concession agreements, the term of which exceeds the validity period of the budgetary commitment limits", Mikhail Mishustin explained at a meeting with deputy prime ministers on 12 February.

Prime Minister stressed that the development of the Far East is one of the priorities defined by the head of state. "It is important to provide citizens of these Russian regions with a more comfortable standard of living," he said.

The Far East concession mechanism is one of the main tools for implementing plans for the social development of economic growth centres in the Far East regions. Through such a mechanism, the government guarantees companies a return on investment and minimises risks. The Government is conducting this work on behalf of the President of Russia.