Wednesday, August 16, 2017

Putin promises financial aid for World Expo 2020

President Vladimir Putin promised state and financial support to Yekaterinburg this week if it is chosen to host World Expo 2020.

"If you make a decision to hold the Expo-2020 in Yekaterinburg we guarantee additional support for the development of the infrastructure in the city," Putin told a meeting of senior officials from the International Bureau of Expositions, RT.com reports.

Putin said that road infrastructure and the city airport would be top spending priorities, adding the russian businesses will join in the funding and assist with the construction of hotels.

Putin called Yekaterinburg a prime spot to host the expo.

"It's a convenient and vacant place," Putin said, according to RT.com. "Exhibition pavilions are already being built there, and some pavilions are already working.

"It will be convenient for our colleagues taking part in the exhibit to get there both from Europe and Asia if a decision is made on Yekaterinburg."

Estimates place the cost of hosting World Expo 2020 at $30 billion, with the creation of the Expo Park accounting for half of that sum.