According to Andrei Chibis, the new specialized corporation, if created, can help to attract long-term investment to finance the Arctic development project. It could also issue long Arctic bonds under projects needed by the state.

He articulated the idea during his meeting with President Vladimir Putin on November 24.

“I mean, it can draw money for the projects needed by the state. They are appealing in investment terms but no one is likely to go along unless there are state guarantees,” the Governor said.

He also suggested an option involving additional capitalization and transformation of the Corporation for the Development of the Russian Far East and  the Arctic.