Urban agglomerations are regarded as growth points of cities and areas. This opinion is shared by all participants of the session on “Agglomerations as centers of economic growth: Financing mechanisms” held on the Moscow Financial Forum on September 6.

Natalya Sergunina, Deputy Mayor of Moscow for Economic Policy, Land and Property Relations, noted, “Any agglomeration project involves many municipalities and, as a rule, a few federal subjects. These adjacent projects are hard to manage as they involve inter-budget relations.”

Sergunina believes that we, nevertheless, need to look for optimal variants of resolving these complications, as they are incomparable with the benefits that an agglomeration project brings about to the city and related areas.

The Deputy Mayor of Moscow listed the benefits of an agglomeration using the capital city as an example, “Today’s Moscow is an entrance to the Russian market. At the same time, it is an exit point to foreign markets. No prize for guessing that every 4% of Moscow’s GDP growth mean a 1% increase in the GDP of Russia.”

The panelists came up with a recipe for making such success: create an urban environment that is comfortable for the dwellers, as well as for tourists, investors, students and highly qualified professionals.