OREANDA-NEWS. August 9, 2010. President of Russia Dmitry Medvedev has signed Federal law On Ratification of the Agreement between the Government of the Russian Federation and European Community on Financing and Implementation of Karelia Cross-Border Cooperation Program. The agreement sets principles of relations between Russia and the European Union within the framework of the Karelia program. Our republic is the key participant of the program on the part of Russia.

The main purpose of the program is social welfare in territory of the region through cross-border cooperation. The program assumes implementation of projects interesting for both frontier Russian territories, and our neighbours across the border. These are projects on development of the territory, construction and reconstruction of roads, ecology, tourism and some other directions. Participants of projects of the program are offered customs and tax privileges.

— The document on financing of cross-border cooperation which signed by the President is continuation of work between the Russian Federation and the European Union on development of cross-border cooperation, — Acting Minister of Economic Development of the Republic of Karelia Mikhail Yurinov said. - The document is based on experience gained at implementation of previous cross-border cooperation programs, such as TACIS, Interreg and the Neighbourliness.

Financial investments of the Russian Federation in the Karelia program make € 11,6 million. The Finnish party invests the same amount, and the European Union's share is € 23,2 million. Total budget of the program makes € 46,4 million.

According to Mikhail Yurinov, the program is meant for the period from 2010 to 2014. Curently there operate Selection and Supervising Committees of the program. The first stage of the program is application when participants submit their project offers. Simultaneously, the second stage is being arranged.

— During the second application stage it is supposed to present projects on development of cooperation in the field of tourism. These are projects aimed at development of cooperation with travel agencies for organization of joint tours, increasе of the level of services rendered to our tourists, occurrence of new objects of tourism and infrastructure. One of the major purposes meant by the Government of Karelia at implementation of the program is development of infrastructure along the border of the republic, — Mikhail Yurinov said.