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President Vladimir Putin thanked all members of the government who took part in the work of the committee organising Sochi’s bid for the 2014 Winter Olympics.

It is expected that more private investment will be raised for preparing for the Games than was initially planned. A large part of the money will go towards infrastructure development in southern Russia and these funds must be spent as rationally as possible. The Prosecutor General’s Office is to set up a special working group to ensure that none of the money is embezzled.

Mr Putin asked the government to work speedily on the issue of bringing in foreign partners to take part in building facilities for the 2014 Winter Olympics in Sochi.