By Anna Smolchenko
Staff Writer

MOSCOW (The Moscow Times) - Twelve projects, including some connected to Kremlin-friendly oligarchs, have made a shortlist to get money for infrastructure projects from the state investment fund.

The Economic Development and Trade Ministry, which oversees the fund, said Thursday that an interministerial committee had shortlisted 12 of 46 bids to receive a total of 70 billion rubles ($2.6 billion) available this year. The fund is made up of windfall oil revenues and cash saved through early debt repayment.

The 12 projects -- with a combined estimated cost of $34 billion -- are seeking a total of $11 billion, the ministry said...

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Posted by rjorr at June 9, 2006 10:04 AM