MAJOR ASIAN BANK MAY INVEST IN RUSSIA’S FAR EAST
19 May 2016
Russian President Vladimir Putin and President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun have discussed opportunities for investing in projects in Russia’s Far East. Minister for the Development of the Russian Far East Alexander Galushka also attended the meeting, his Ministry said in a press release.
The Asian Infrastructure Investment Bank is contemplating investing in a number of projects in Russia’s Far East. Vladimir Putin and Jin Liqun discussed expansion of the Trans-Siberian Railway and development of the Northern Sea Route and special economic zones (advanced special economic zones) in Russia’s Far East.
The outlook for cooperation between AIIB and the Far East Development Fund was discussed in March this year on the margins of the Boao Forum for Asia in China. The chief executives of the bank and the fund agreed to meet again at the Eastern Economic Forum, which will take place on 2 and 3 September in Vladivostok.
AIIB is one of Asia’s biggest banks, with an equity capital of USD 100 billion. Its 57 founding nations include China, India, Russia, Germany and South Korea. The bank’s mission is to promote infrastructure projects in Asia-Pacific.