Russia transport infrastructure cash for 2018 FIFA World Cup

New transport infrastructure in Russia will be created from a US$4.178 billion (RUB 130bn) federal budget pot for boosting transport, energy supply, communications, utilities, and safety infrastructure ahead of the country hosting the 2018 FIFA World Cup. Meanwhile, a further US$3.857 billion (RUB 120bn) is to be spent on the reconstruction of sport facilities ahead of the international football showpiece event. To pay for the huge infrastructure spending the Russian government is reported to have ordered
May 7, 2013 Read time: 2 mins
New transport infrastructure in Russia will be created from a US$4.178 billion (RUB 130bn) federal budget pot for boosting transport, energy supply, communications, utilities, and safety infrastructure ahead of the country hosting the 2018 FIFA 1556 World Cup.

Meanwhile, a further US$3.857 billion (RUB 120bn) is to be spent on the reconstruction of sport facilities ahead of the international football showpiece event.

To pay for the huge infrastructure spending  the Russian government is reported to have ordered the Sports Ministry, the Ministry of Regional Development, the Finance Ministry, the Ministry of Communications, the Energy Ministry, and other institutions to look at the possible use of money from the National Wealth Fund, which accumulates funds to cover deficit in the country’s Pension Fund.

The Moscow Airports may require additional financing. Amendments to the program of 2018 FIFA World Cup preparations must be introduced until 22 May 2013. The National Wealth Fund had RUB 2.70tn as of 1 April 2013. The infrastructure programme was due to be approved and launched in June 2013.

For more information on companies in this article

Related Content

  • US increased transportation budget proposals
    July 12, 2012
    IRF's Washington Programme Centre provides an update on some latest developments in the 2010 Budget plan There has been further recent action from both Congress and the White House on budget plans that will guide the Transportation Reauthorization Bill for the next six years. On 7 May, President Obama proposed large increases for rail and highways in his 2010 Budget plan, including the largest amount of funding that any President has sought for Amtrak, or for the development of high-speed rail in the Unite
    Read More
  • US increased transportation budget proposals
    July 12, 2012
    IRF's Washington Programme Centre provides an update on some latest developments in the 2010 Budget plan There has been further recent action from both Congress and the White House on budget plans that will guide the Transportation Reauthorization Bill for the next six years. On 7 May, President Obama proposed large increases for rail and highways in his 2010 Budget plan, including the largest amount of funding that any President has sought for Amtrak, or for the development of high-speed rail in the United
    Read More
  • Russia's massive road investment continues
    March 23, 2012
    Russia’s road building and upgrading programme is now gathering pace. Russia's Federal Highway Agency plans to bring over 85% of federal roads into conformity with road traffic regulations. The Federal Highway Agency has boosted construction of rural roads by establishing road funds and built over 500km in 2011.
    Read More
  • “Innovative thinking” can secure vital US transport infrastructure cash
    August 21, 2012
    A leading US regional business association figure has called for “innovative thinking” on transport infrastructure funding and the “aggressive exploration” of new funding sources to help achieve a more prosperous America. Writing in the Cincinnati Enquirer, Ellen van der Horst, president and CEO of the Cincinnati USA Regional Chamber, said: “Just as innovation leads to improvements in the way we do business, innovative thinking can also lead to improvements in the way we fund infrastructure. And the need fo
    Read More

Highlighted Content