BREAKING NEWS

Report: Russia to spend $10 billion per year in N.Caucasus

By REUTERS

JULY 26, 2011 10:40

MOSCOW - Russia will boost spending to $10 billion a year in its North Caucasus region over the next 14 years to try to end an Islamic insurgency and boost development, a newspaper reported on Tuesday.

Kommersant said the Ministry of Regional Affairs planned spending of nearly 4 trillion roubles ($144.2 billion) from the budget and investors until 2025, some 10 times higher than the figure set out in an existing federal program.

It said about one trillion of the 3.8 trillion roubles would be drawn from investors. It gave no further details and the ministry declined to comment on the report.

Ten years after Russia toppled a separatist government in Chechnya, Moscow is struggling to contain almost daily violence by insurgents who say they want to create an Islamic state across the North Caucasus region.

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