MOSCOW TO GRANT ABKHAZIA $330 MLN OVER 3 YEARS
AZG DAILY
30-01-2010
International
Russia will provide Abkhazia financial assistance worth over 10 billion
rubles ($330 million) in the next three years, Russia’s ambassador
to the unrecognized republic said Thursday, according to Ria Novosty.
Semyon Grigoryev said this year Abkhazia would receive about 1.9
billion rubles ($62 million). He stressed that Russia sought to boost
Abkhazia’s economy not only with financial assistance but also with
Russian investment.
"Needless to say, gratuitous Russian aid will keep Abkhazia’s economic
and social sphere going but their development should receive a real
boost from serious Russian investment, primarily from large and
medium-size companies," he said.
The envoy said investment activity would be facilitated by a bilateral
cooperation agreement signed by the two countries in 2009.
Georgia and Russia fought a five-day war in August 2008 over South
Ossetia, which was attacked by Tbilisi in an attempt to bring it
back under central control. Moscow later recognized South Ossetia and
Abkhazia as independent states. Under mutual assistance treaties signed
in November 2008, Russia pledged to help both republics protect their
borders, and it has thousands of troops stationed in the republics,
the source reports.