On August 16 Viktor Ishayev, Minister for the Development of the Russian Far East, and Zheng Zhijie, President of the China Development Bank, signed a cooperation agreement, which involves Chinese investment in large-scale projects in the Far East and the development of mutually beneficial investment cooperation between the two countries.
China’s investment commitment includes financial support of priority projects in the federal programme Socioeconomic Development of the Far East and the Baikal Region until 2025 federal programme and the Programme of cooperation between the Far East, Eastern Siberia and the Northeast of China until 2018.
“We are proposing infrastructure projects – the building of ports, airports, roads, bridges, railways, heating and electricity systems, water supply systems, social and sports facilities, housing, the creation of high-tech and environmentally friendly manufacturing, and telecommunications technology,” Far East Development Minister Viktor Ishayev said after meeting with the President of the China Development Bank.
Up to 5 billion dollar worth of investment is expected to be allocated to finance the projects.
Source: Ministry for the Development of the Russian Far East
