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VEB plans to attract up to 300 bln yuan of investment from China for Russian projects

Among the promising areas of interaction, Igor Shuvalov also named sustainable development and green financing

MOSCOW, October 18. /TASS/. VEB.RF intends to attract about 300 bln yuan of investment from Chinese investors for projects in Russia, Chairman of VEB.RF Igor Shuvalov told reporters.

"We are considering several large projects at once that are now ready to attract money from Chinese investors on mutually beneficial terms. First of all, these are projects in the field of petrochemicals. The total volume of such projects could be about 300 bln yuan," Shuvalov said.

Shuvalov also mentioned sustainable development and green financing as promising areas of interaction. "VEB.RF is a national methodological center for green finance. We are ready to create an information exchange system to share best practices in organizing such financing and implementing low-carbon development projects," he concluded.

Shuvalov also noted that VEB.RF, together with Chinese investors, is already financing projects with a total volume of more than 3 trillion rubles (220 bln yuan). "We are currently developing and implementing six major investment projects with a total volume of more than 3 trillion rubles (220 bln yuan). They include projects for the construction of gas-chemical complexes, production of petrochemical products, construction of mining and processing facilities, and several machine-building projects. We greatly appreciate the active and consistent role of our Chinese friends in the development of mutually beneficial technological and industrial cooperation," Shuvalov said.

He recalled that VEB.RF has traditionally been the largest Russian partner of Chinese financial institutions. Over the past 15 years, VEB's credit operations with Chinese banks have exceeded 1.4 trillion rubles (100 bln yuan).

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