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Sino-Russian agricultural fund may finance 17 projects in Far East

"At the moment decisions on financing four projects with a total of $480 mln worth of investment are about to be made," Ministry for the Development of the Russian Far East said

MOSCOW, August 3. /TASS/. Sino-Russian fund of agricultural development is exploring the possibility of financing 17 agricultural enterprises in Russia’s Far East, a representative of the Ministry for the Development of the Russian Far East said, adding that the decision to provide four projects with funds may be taken soon.

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"A total of 17 agricultural enterprises in the Far East considered for financing by the agricultural fund, are in the prior list of projects. At the moment decisions on financing four projects with a total of 32 bln rubles ($480 mln) worth of investment, are about to be made," the Ministry said, adding that the first investment projects to be backed by the Russian-Chinese fund, will be announced at the second Eastern Economic Forum.

The fund will focus on supporting projects aimed at producing agricultural products as well as creation of necessary infrastructure, the source said, with the goal of satisfying local demand for those products being an indispensable prerequisite.

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