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3 Aug, 2007 03:06

Russia's Far East to get economic boost

Russia's Far East is to receive a big financial boost that is expected to more than double its GDP by 2013. More than 500 BLN rubles of federal funding, equal to over $US 20 BLN, and private investment will be used to revitalise the area.

Most of Russia's trade with the Pacific Rim goes through the region's biggest port of Vladivostok. Its population has been declining recently as people have moved away looking for work.

Bad infrastructure is one reason development is hampered.

The programme will include new railroads, electricity lines and gas pipelines, as well as the reconstruction of 10 ports and 17 airports.