Medvedev Promises to Boost Russian Regional Enterprises with $124Mln Investment

PHOTO by Dmitry Astakhov / RIA Novosti

Russian Prime Minister Dmitry Medvedev said that the government intended to invest up to 7.5 billion roubles ($124.3 million) from the federal budget to support small and medium-sized businesses outside of the major cities, TASS reported.

"Seven and a half billion roubles are to be distributed to small and medium-sized enterprises, including the so-called young entrepreneurs," Medvedev said.

He also added that the government would give out an additional 58 billion roubles ($961 million) to subsidise interest rates on investment loans for agriculture.

The prime minister previously said that unused subsidies would be transferred to the Reserve Fund.