The Ministry for the Development of the Russian Far East and Arctic will provide financial support to the projected Arctic Quarter residential estate, the ministry head, Alexei Chekunkov, told Arkhangelsk Region Governor Alexander Tsybulsky.

Four plots of land measuring13.5 hectares have been included in the Capital of the North advanced development territory created in 2024. The plans are to build 200,000 square meters of housing there, along with new transport and energy facilities. It is also necessary to upgrade the water supply and drainage systems.

“We have achieved the utmost rates of construction and are unable to move any faster, since we lack the potential for switching new facilities to the grids. This is why we are certain to implement this project,” Mr Tsybulsky said.

He also noted that over 2.4 billion rubles would be allocated to create or overhaul infrastructure for housing construction at the Arctic Quarter.

It is intended to draw funds for events included in the draft long-term comprehensive plan for developing the Arkhangelsk agglomeration until 2035 from federal subsidies and Treasury infrastructure loans. The Russian Far East and Arctic Development Corporation will also lend a hand.

“We are studying funding options. We have some positive experience of cooperating with the Murmansk Region to create infrastructure for an advanced development territory. So, we will help them as much as we can,” Alexei Chekunkov said in conclusion.