Volume of investment program in Moscow is enhanced by 20%
Moscow authorities have decided to increase funding for targeted investment program (AIP) of the capital by almost 60 billion rubles in 2016.
More than a half – 33 billion rubles – will be spent on the development of the transport system of Moscow including Troitsky and Novomoskovsky okrugs, reported the Department of Economic Policy of Moscow.
About 3.5 billion rubles will be added for development of social facilities – for designing of seven schools and the completion construction of the Morozov Hospital.
In addition, the construction of a concert hall on Varvarka street will be funded from AIP. Its total cost amounts to 3.3 billion rubles.
In January, it was reported that funding for targeted investment program of Moscow for 4 years increased by 6.4 billion rubles. Funding for AIP 2015-2018 exceeded 1.5 trillion rubles.
Targeted Investment Program (AIP) determines which facilities will be built in Moscow at the expense of the city budget. Thus, the program sets the distribution of the city budget to finance the activities of municipal programs for the next financial year and planning period.