Governor of Sverdlovsk Region Alexander Misharin took part in the government meeting on economic development and integration in Moscow. The meeting was chaired by Deputy Head of the Russian Federation Government Igor Shuvalov. The agenda covered issues related to the socioeconomic development and industrial diversification of towns with only one major employer (usually a big industrial enterprise).

The Governor presented his multi-faceted investment plan for the development of Nizhniy Tagil, Sverdlovsk Region.

According to the project, the town’s economy will receive 124 billion RUR worth of investments in 2010-2020, with 65.6% of the sum contributed by the private investors. 32.1% will be supplied from the federal budget. As far as the year 2010 is concerned, Nizhniy Tagil is going to need 8.46 billion RUR, of which 23.8% will be obtained through budget loans, 44% will be allocated by the state-private banks and 13.9% will be received in the form of government grants.

This means the town will be given nearly 40 billion RUR from the federal budget, including the 3.5 billion RUR to be supplied this year. 2.6 billion RUR will be given from Sverdlovsk Region’s budget, including 137 million RUR in 2010. The municipal budget will invest 193.4 million RUR, including almost 30 million RUR in 2010. Finally, some private investments will amount to 82.7 billion RUR, including 4.8 billion RUR in 2010.

Governor Misharin suggested that Sverdlovsk Region’s housing repair and slum dwellers relocation subsidies should be increased up to 1.5 billion RUR and 600 million RUR, respectively, for the town of Nizhniy Tagil. Also, the region needs a 1.91-billion-ruble budget loan to implement the investment programs in the town.