The total amount of money to be allocated for rebuilding Chechnya will be about $1bn this year, Minister of Socioeconomic Development in Chechnya Stanislav Ilyasov told journalists following a meeting of the government commission for the social and economic rehabilitation of Chechnya. These funds will be distributed among a corresponding federal target program, RAO UES, Gazprom, the Russian Railroad Ministry, social allowances as well as reparations totaling RUR14bn ($457.46m). The bulk of the reparations will be granted by the end of this year.
Ilyasov specified that in 2003 the finances to be allotted for the mentioned federal target program would amount to RUR3.5bn ($114.36m). He noted that despite terrorist acts in Chechnya and changes in the Chechen administration, the government had managed to start allocating funds to revive the Chechen social sphere and economy. The official expressed confidence that the federal target program would be accomplished in November.