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Russia to Invest $20 Billion in Water by 2010

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Russia plans to invest over $20 billion by 2020 in managing its water resources and infrastructure upgrades, says Prime Minister Vladimir Putin.

Russia has more than 20% of the world’s fresh water.

“Apart from state budget funding, we need to create conditions for private sector inflows,” said Putin. “On the whole, this sector (water) can be attractive for private investment.”

Several years ago, Soviet leaders drafted plans to divert water from Siberian rivers to European Russia, but the plans were dropped in the late 1980s. Some Russioan politicians, including Moscow’s mayor Yuri Luzhkov, have called for the plans to be re-examined.

Source: Alliance for Water Efficiency

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