The Russian Government signed an order to write off two-thirds of Mordovia's budget loan debt
Russian Prime Minister Mikhail Mishustin signed an order to write off two-thirds of the budget loan debt owed to 21 regions, totaling over 114 billion rubles. Mordovia will be written off two-thirds of its budget loan debt, amounting to 1.3 billion rubles.
This decision will ease the debt burden on the regions' budgets, support further improvements in the regional economy, and improve the quality of life for citizens.
The write-off amount corresponds to the amount of investments these regions have made in housing and utilities modernization projects, relocation of residents from dilapidated housing, public transportation renovation, recapitalization of industrial development funds, as well as in the implementation of national and new investment projects for the development of cities and municipalities in the regions comprising the Far Eastern Federal District and the Arctic Zone of Russia.
"The Mordovia team accomplished the task of implementing new investment projects and modernizing infrastructure. As a result, our region (among 21) received additional assistance from the federal center. Thank you to the Russian government and Mikhail Mishustin personally for your support!" noted Artyom Zdunov, Head of Mordovia.
"This is already the third write-off for our republic. Federal support will allow us to use the freed-up funds for important social programs and infrastructure development," the Head of the Republic emphasized.