The Stabilization Fund, which is expected to hit 3.8 trillion rubles ($158 billion) by January, was set up to accrue surplus revenues from high world oil prices, and has also been used to assist the Russian economy.
A government spokesman said that the equity capital of the Development Bank would receive 180 billion rubles ($7.4 billion). The bank was set up to provide medium-and long-term financing of investment projects in priority areas in the Russian economy, assist in attracting foreign investment, and provide financial support for export / import operations.
As much as 90 billion rubles ($3.7 billion) will be allotted to the investment fund, and another 30 billion rubles ($1.2 billion) to the Russian Nanotechnology Corporation, which is also to receive 100 billion rubles ($4.1 billion) from the budget.
A fund for public utility reform will be offered 240 billion rubles ($9.9 billion) from the budget.
Available state corporation funds are then to be placed on domestic and foreign financial markets, and the Finance Ministry is to determine and then coordinate the placement ratio with the Central Bank of Russia.
The ministry is coordinating a draft for the placement of public utility and nanotechnology funds, which could be placed before the end of this year.
