MOSCOW, May 29 (RIA Novosti) - Russia will...

"We have allocated substantial resources for the development of such promising areas as nano- and biotechnology, nuclear energy, aerospace and other research in 2008-2010. Federal target programs alone will receive about 600 billion rubles for these purposes," Putin told a meeting of the Russian Academy of Sciences.

The volume of budget financing for the Russian Academy of Sciences has increased considerably, with the academy's budget growing from over 37 billion rubles ($1.6 billion) in 2007 to around 45 billion rubles ($1.9 billion) in 2008, Putin said.

Federal budget spending on civil science in 2008 will reach around 125 billion rubles ($5.3 billion) and about 200 billion rubles ($8.5 billion), taking into account extra-budgetary funds, Putin said.