Khusnullin: 32 regions will receive treasury loans for 75 billion rubles

The Government Commission for Regional Development in Russia, headed by Deputy Prime Minister Marat Khusnullin, approved new applications from 32 regions for special treasury loans (SCC) totaling RUB 75 billion, reported on the government website.

“As a result, 32 regions were selected, where 61 infrastructure projects will be implemented, including the construction or repair of 136 facilities,” Khusnullin said.

The funds will be directed mainly to the renewal of housing and communal services, the vice-premier explained. In total, applications from 55 regions worth more than 155 billion rubles were received to participate in the selection. As Ilshat Shagiakhmetov, director of the Territorial Development Fund, pointed out, the regions are in high need to upgrade their infrastructure.

The press service reminded the government that earlier new regions received special treasury loans for the modernization of housing and communal services, 73 regions for the renewal of bus fleets, and another 11 Far Eastern regions for the implementation of master plans for cities.

Special treasury loans are provided to the budgets of the regions of the Russian Federation and are intended to finance activities in the field of construction and modernization of infrastructure facilities, as well as the development of transport. Such a loan is provided for a period of up to 15 years with the terms of its repayment annually in equal installments.

How wrote Earlier, Vedomosti, the Russian municipal bond market continues to decline on the back of federal support for local budgets in order to reduce their borrowing costs. According to the Ministry of Finance, in 2021-2022. the regions were granted budget loans for a total of 718.7 billion rubles, including 46.7 billion rubles. in 2021 and up to 111.3 billion rubles. in 2022 – to pay off the market debt of municipalities.