Vnesheconombank Intends to Participate in Promoting Investments for Projects in the Far East

In the course of the President of the People’s Republic of China’s official visit to the Russian Federation State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the Russian Direct Investment Fund, the China Investment Corporation and the Russian-Chinese Investment Fund entered into a Memorandum of Understanding in order to promote investments for projects on the Russian Far Eastern territory. The Memorandum was signed in the presence of Russian President Vladimir Putin and President of the People’s Republic of China Xi Jinping.

Under the Memorandum the parties intend to step up their cooperation in raising investments for infrastructure projects to be implemented on the Russian Far Eastern territory.

Projects for investments are to be selected along the following key lines:

development of new infrastructure, logistics support for new facilities;
development of high value-added production facilities and processing of natural resources;
expansion of sale markets for leading manufacturers and companies and others.

Vnesheconombank Chairman Vladimir Dmitriev said: “Together with our partners from China we fund joint Russian-Chinese development projects in top priority economic sectors. These above all include high technologies, innovations, energy saving and others. Our cooperation is becoming an important step in developing infrastructure of economic cooperation between Russia and China”.

Press Office of Vnesheconombank
Phone: +7 (499) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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