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China to set up fund for Russian projects financing

China Overseas Development Association’s Russian Center s currently looking for reliable investment projects in Russia

© EPA/MICHAEL REYNOLDS

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BEIJING, August 19. /TASS/. China Overseas Development Association’s Russian Center (CODARC) plans to establish a fund for investments into short-term projects in Russia in 2018, CODARC Secretary-General Zhan Ming told TASS on Friday.

"The next development phase of our Center will be launch of a fund to finance Russian projects. It will start operations in the nearest future and will reach the target financing volume in two years," the expert said.

CODARC is currently looking for "reliable investment projects," Zhan Ming said. "This task requires a very thorough approach," he added.

CODARC was founded in 2015 for the purpose of supporting Russian and Chinese companies in promotion of their projects, search for financing sources and settlement of legal issues.

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