Chukotka Autonomous Area’s people’s bonds worth a total of 140 million rubles, which had been placed on the Financial Services website, were sold within 10 hours of their market launch, the regional government’s press service reports.  

The securities were purchased by over 520 people, with average investments amounting to 250,000 rubles and maximum investments reaching 5.5 million rubles.

The top five buyers by region were Moscow and the Moscow Region, St Petersburg, the Sverdlovsk Region, and Chukotka.   

The mobilized funds will be distributed to municipalities to support participatory budgeting projects, including improvements to regional social infrastructure.