Investment fund in Russia does not work – Igor Levitin
The Investment Fund supposed to finance large infrastructure projects in Russia does not work, IAA PortNews journalist cites Russia’s former Transport Minister and Presidential Adviser Igor Levitin as saying at the panel discussion within the framework of the St. Petersburg International Economic Forum – 2013.
“Today, nobody wants to pay for the projects – for example, Russian Railways asked the government for resources and the discussion is in process, what if the project does not work? The Investment Fund was set up to finance the projects through the tenders but, unfortunately, this Fund does not work now and it is a problem for large projects to start... There should be a mechanism to start the projects,” Levitin said.
