Russia writes off part of budget loans debt for eight more regions

© изображение сгенерировал ИИ

Eight Russian regions have had two-thirds of their budget loan debt written off, totaling over 48 billion rubles, according to a government press release.

The debt relief applies to Udmurtia, Volgograd, Moscow, Nizhny Novgorod, Novgorod, Novosibirsk, Ryazan, and Chelyabinsk regions.

Government officials emphasized that the write-off amount corresponds to the investments made by these regions in modernization projects, including elevator replacements in multi-family residential buildings (MKD), relocation of residents from dilapidated housing, public transport upgrades, development of key settlements, expansion of special economic zones (SEZ), and capital increases for regional industrial development funds.