Dismissing rumors that state financing for Skolkovo might be reduced, the Russian Ministry of Finances confirmed earlier this week that the federal government’s total funding for the project will remain unchanged at 85 billion rubles (approximately $2.7 billion) between 2010 and 2015.
This confirmation suggests that the Skolkovo project, which consists of building a world-class technology hub on the outskirts of Moscow, has not lost its momentum in spite of the recent political evolutions in the country.
The project had been initiated by former president Dmitry Medvedev, now Prime Minister. Some observers had expressed doubts that the project would still enjoy such strong state support under Vladimir Putin’s presidency.
The 85 billion ruble amount does not take into account other sources of financing, ranging from loans from Vnesheconombank (VEB) to investments from private investors.
Sources: RIA Novosti, Skolkovo Foundation
