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At a Government Cabinet meeting with President Vladimir Putin, First Deputy Prime Minister Sergei Ivanov reported on preparations for the Russian Government Supervisory Council for the Development of Nanotechnology’s first upcoming meeting. As well as members of the Government, the Council’s members include representatives from the parliament, civil society and big business.

The Council was established to coordinate the President’s initiative to develop nanotechnology. The Council will be responsible in particular for coordinating financing for nanotechnology projects in the fields of energy, materials studies, and medicine.

Under the provisions of a federal targeted programme, approximately $230 million will be allocated to developing the nanotechnology industry infrastructure. These funds will go primarily towards developing major Russian scientific centres that have already demonstrated their achievements in the nanotechnology field.