RDIF, VEB, CEECF create structure for financing Chinese exports to Russia
BEIJING. Dec 17 (Interfax) - The Russian Direct Investment Fund (RDIF), Vnesheconombank (VEB) (MOEX: VEBM) and China-Eurasia Economic Cooperation Fund (CEECF) have signed an agreement on cooperation in investment in priority economic sectors in Russia and China, VEB chief Vladimir Dmitriev told journalists.
The sides agreed to create a structure for financing Chinese exports to Russia.
"We have completed talks on creation of the structure, which will finance Chinese exports to Russia and the flow of Chinese investment into relevant projects preferentially located in the Far East and Trans-Baikal," Dmitriev said.
In addition, the sides determined the priority area of joint work as implementation of investment projects in the field of "development of industry and transport infrastructure and the power generation sector, as well as energy efficiency and sustainable development, directed at improving environmental and social conditions," VEB said in a press release.