Russia Offers $150m of World Cup Infrastructure Subsidies

The Russian government has given the green light to a new set of rules on subsidising construction of stadia and other infrastructure for the Fifa World Cup, which will be held in the country in 2018.

Prime Minister Dmitry Medvedev signed the agreement outlining how the government will support the regions of Russia which are hosting games by offering subsidies to the tune of $150m (£89.2m, €112m).

Although some venues are on schedule for completion, others have seriously fallen behind as Russia gears up to host the footballing tournament.

It is thought that Russia will stump up about $20bn in order to suitably prepare for the competition with new stadia, hotels and training facilities firmly on the agenda.

Half of this sum will come from regional government budgets with the other portion coming from private investors.

Russia received mixed reviews for its hosting of the Winter Olympics in Sochi, despite spending over $50bn for the competition earlier this year.