OREANDA-NEWS. Subventions will be secured in the 2008 draft budget for construction organisations to help them purchase equipment. The subventions will be equivalent to 20% of the innovation fund, Minister of Architecture and Construction Alexander Seleznev told a session of the Presidium of the Council of Ministers, reported the Official website www.government.by.

The matter is that no grants were given from regional budgets in 2007 for modernisation of the construction industry. At the beginning of the year the Ministry of Construction and Architecture put an initiative to institute subventions for the regions in the volume of 20% of the innovation fund. As the 2007 budget was completed, an opportunity to realize this initiative will be in 2008.

The Minister informed that over the nine months this year the volume of financial assistance to the construction organizations came to Br258 billion, or 11% of the state comprehensive development programme of the construction industry for 2006-2010.