The President of Bashkiria offered to establish Development Fund of the Republic, aimed at its social development

Answering the question concerning the opportunity to use the means, obtained from the sales of the oil-industrial complex, for the Republican social needs, the President RB Rustem Khamitov has answered at today’s press-conference that this money is found in the Republic on the deposit balances at several big banks and in the charitable funds. The overall sum is slightly more than two billion dollars or more than 60 billion rubles.

The revenue part of this sum is planned to distribute for the Republican social needs. This subject was discussed by Rustem Khamitov at all levels, including the ex-President RB Murtaza Rakhimov, who said about such opportunity not long ago in his interview to “INTERFAX”.

The President of Bashkiria has stated about reaching the full agreement concerning how these finances should work for the good of the Republic. According to him the supervisory board, including the representatives of the public community and the authority, will be established in Bashkiria. After that the program for the use of this means will be formed and the contests for obtaining the money from this fund, which can be conditionally called either the Development Fund RB or the Charitable Fund RB, will be held.

This income should be directed to development of the Republic: construction of schools, hospitals, roads, development of sport and tourism. Rustem Khamitov has suggested that the amount of this fund should make up several billion rubles.