Support The Moscow Times!

$48 Billion Needed to Resolve Housing Issues

Russia needs to spend 1.7 trillion rubles ($48 billion) on demolishing derelict housing and resettling the citizens now living there, according to Sergei Stepashin, head of the supervisory board of the Housing and Utilities Reform Fund.

Lack of funding is one of the main obstacles in the sphere of housing and utilities in Russia, Stepashin said during a webinar last week, RIA Novosti reported.

"First and foremost, there are colossal problems with derelict housing, with major repairs," Stepashin said.

The fund plans to spend 98 billion rubles ($2.8 billion) on razing dilapidated housing by 2018, in which time more than 777,000 people will need to be resettled by the government.

Nearly 11.4 billion square meters of rundown housing will be torn down by the end of 2017, according to a plan amended by the Housing and Utilities Reform Fund in March.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more