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China to allocate $5 billion to Russian Far East — development ministry

April 11, 2014, 13:51 UTC+3 KHABAROVSK
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KHABAROVSK, April 11. /ITAR-TASS/. State-owned China Development Bank has confirmed its plans to invest in the development of Russia's Far East, Russia's Far East Development Ministry said on Friday.

“Readiness of the bank to allocate $5 billion for Russia’s Far East development projects has been confirmed at a meeting between the Minister for the Development of the Russian Far East, Alexander Galushka, and the president of China Development Bank, Zheng Zhijie,” the ministry said.

The program’s investment priorities include creating zones of development, financing infrastructure projects and implementing long-term regional investment programs.

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