Deputy Prime Minister Dmitry Chernyshenko announced at a meeting on tourism led by President Vladimir Putin that around 1.5 trillion rubles ($16.4 billion) will be invested in the development of beach resorts in Russia.
For every ruble, we require five [rubles]. In other words, 1.5 trillion rubles of investment capital will result from 300 billion rubles ($3.3 billion) of budgetary funds. This really is a very large sum, Chernyshenko declared.
The official stated that while extending National Projects and updating other plans and programs for new resorts, financing should be carefully studied. Without local support, such complicated initiatives cannot be carried out, he continued.
