MOSCOW, Aug. 15 (Xinhua) -- Russia is fully prepared to host the upcoming summit of the Asia-Pacific Economic Cooperation (APEC) , Minister for the Development of the Russian Far East Viktor Ishayev said Wednesday.
"What will be presented for the summit's participants is absolutely not worse and perhaps even better than in other countries," Ishayev told reporters here, adding that Russia is " 101 percent" prepared for the event, and all the infrastructure of Vladivostok, where the APEC summit will be held, is ready.
"The enormous work has been done. The preparations are very serious and everything is going to be okay," the minister said, admitting that the decision to hold the APEC summit in Vladivostok is "challenging."
Local authorities promised that over 620,000 residents in Vladivostok would be compensated for the inconveniences caused by the summit such as expected occasional roads closures and frequent ID checks on the streets.
The Russian government allocated about 600 billion rubles ( about 18.8 billion U.S. dollars) to prepare for the APEC summit. In Vladivostok, over 50 venues have been built from scratch, including the world's tallest, four-lane cable bridge to the nearby Russki Island, where most of the summit's meetings will be held.
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