Putin to chair $22 bln Russian crisis funding meeting - paper

MOSCOW (Reuters) - President Vladimir Putin is to chair a government meeting on Wednesday over a 1.7 trillion rouble (15 billion pounds) plan to protect the Russian economy from major economic crises, the RBC daily newspaper reported, citing government sources.

It said at least 737 billion roubles were included in a contingency plan sent to Prime Minister Dmitry Medvedev.

The Russian economy, which is heavily dependent on energy exports, contracted by 3.8 percent in the fourth quarter of last year, mainly due to the falling price of oil amid an oversupply crisis.

The economy is expected to shrink by 0.8 percent in 2016.

Measures to prop up the ailing economy are aimed at structural overhaul and to improve the investment climate, as well as supporting the regions and ensuring social stability, the newspaper said.

It also said that funds for the financing will be taken from Russia's federal budget and an anti-crisis fund. The highest spending, to the tune of 310 billion roubles, was allocated for loans to the regions.

($1 = 78.8990 roubles)

(Reporting by Vladimir Soldatkin; Editing by Eric Meijer)