Russia to pour $25 billion into technology

[FarCenter]

Drew Wilson --
EE Times Europe --
(08/21/2008 3:03 AM EDT)


BERLIN — Russia plans to put 600 billion rubles (about $25 billion) into technology-based research programs over a two-year period, Prime Minister Vladimir Putin said, speaking at a science and education conference reported by the local media.

"We have never provided this sort of money for such purposes before," Putin was quoted as saying by Interfax.

The announcement, played on Russia's NTV and reported by the local press, appears to be a confirmation of an earlier promise Putin made during a speech to the Russian Academy of Sciences in May.

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