NOVO-OGARYOVO, October 19. /TASS/: Special approaches to support investments in the development of public transport should be developed in Russia to prevent the withdrawal of such funds to other sectors and abroad, as it happened in the housing and utilities sector, Russian President Vladimir Putin said on Tuesday.
"The government must propose unique measures to promote investments in public transportation, such as direct subsidies to repay loan interest. So that we do not have a situation similar to some issues directly related to housing and communal services, such as water supply and sanitation," he said.
Putin stated that one of the strategy's primary goals is to improve public transportation, urban and suburban communications. "This is vital not only for huge metropolitan regions but also for little towns where there aren't always enough suitable links to the regional center and buses and trains are old," he said.
The President remembered that the government created a new credit instrument this year to improve regional public transportation. Pilot projects of this type are being planned in 12 Russian regions. "It is critical that these projects appeal to a wide range of stakeholders, including private investors. I'd also like to point out that such initiatives may not be cost-effective in every region, even in the long run," the president said.
