Chinese funding is being sought by Russia to help pay for major infrastructure development works – image courtesy of © Mohamed Osama, Dreamstime.com
Funding from China’s Asian Infrastructure Investment Bank (AIIB) is being sought by Russia for major infrastructure projects. Included amongst the five infrastructure projects are two key transport routes. The programme is being managed by Russia's Ministry of Economic Development.
A funding package of US$10 billion would help pay for the construction of the Russian stretch of the vital road connection between China and Europe. The Russian Government is keen for China to help pay for the road route as it will be of enormous economic benefit to China, as well as Russia and Europe.
Funding worth $1.4 billion is also being sought for the construction of the Vladivostok Ring Road from AIIB, as well as $50 million for a logistics centre close to the recently completed Amur River Crossing linking Eastern Russia with China. Other projects for which AIIB funding is being sought in the infrastructure programme are for the construction of windfarm power generation plants.
