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Moscow, Sokhumi Approve 2020-2022 Investment Program

At an “inter-governmental commission session” held in Sokhumi on December 18, Russian Deputy Prime Minister Vitaly Mutko and occupied Abkhazia’s ‘prime minister’ Valery Bganba approved the investment program for 2020-2022. The program envisages Moscow to issue RUB 4.5 billion (about USD 72 million) to Sokhumi for improving road, energy and social infrastructure.

Hailing the program as “enough large and serious,” Russia’s Mutko said it aims at removing restrictions and raising the region’s economic potential. “We agreed to elaborate a certain program to harmonize legislation, [aimed] at opening more opportunities to joint business activities”, he said. 

Mutko also spoke of implementation of other mutual agreements with Sokhumi, including on the establishment of the “Joint Information-Coordination Center of Internal Affairs Agencies,” which aims to coordinate Russian and Abkhaz agencies to counter “organized crime and other dangerous crimes.”

Investment program is one of the forms of financial assistance that Russia provides to occupied Abkhazia on a regular basis. 

According to Sokhumi-approved budget, the occupied region was set to receive RUB 1.6 million (about USD 26 million) in frames of investment assistance in 2019. Additionally, Russia had issued RUB 2.79 billion (about USD 44.6 million) for social and economic development of the region as a financial assistance.

This represents 57% of region’s total budget.

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This post is also available in: ქართული (Georgian) Русский (Russian)


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