Putin vows spending spree to science

Prime Minister Vladimir Putin yesterday promised to spend $25 billion on science institutions in Russia between 2008-10 to help stop a decades-old brain drain and restore Russia's competitive edge in critical areas.

"We have already earmarked sizeable funds to develop such promising sciences as nano- and biotechnologies, nuclear power, aerospace exploration and a number of others," Putin told a meeting with members of the Russian Academy of Sciences.

"Only in line with special federal programs, around 600 billion roubles ($25.44 billion) will be spent on these areas in 2008-10."