ST. PETERSBURG, October 6 (RIA Novosti-Northwest, Olga Vtorova) - The president of the Russian Venture Investment Association said Thursday that the capitalization of Russian venture funds could double in 2005 to reach $8 billion.
A department head from the Federal Agency for Science and Innovation said the volume of extrabudgetary financing of major venture projects in 2006 was expected to hit 800 million rubles ($28.05 million), against 780 million rubles ($27.35 million) this year.
The agency's Alexander Suvorinov said more than 500 million rubles ($17.53 million) would be allocated for these purposes next year from the federal targeted scientific-technical program against this year's 350 million rubles ($12.27 million).
