Russia to Spend Over $2 Billion on Crimea Modernization

MOSCOW (Sputnik) – Deputy Minister for Crimea Andrey Sokolov announced at an economic forum in Yalta on Saturday that the sum allocated for Crimea’s infrastructure development can be comparable to the funds spent on the preparation for the 2014 Sochi Olympics, adding that “in the coming years this sum will only increase.”

According to Sokolov, Russia plans to allocate about 90 billion rubles for the social and economic development of Crimea in the next five years.

By 2020, Russia also plans to start operating its analogue of Silicon Valley (the California home of the world’s largest high-tech corporations) on the peninsula. The project, called Digital Valley of Crimea, was presented at the Yalta forum on Saturday.

Crimea rejoined Russia in March 2014 following a referendum in which 96 percent voted in favor of the move.

Full article: Russia to Spend Over $2 Billion on Crimea Modernization (Sputnik News)

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