Amid a difficult economic situation in the world, everyone is looking for a way to recover their financial activity. While the European community is not keen to cooperate with Russia, China is ready to become its partner once again. China and Russia launched a joint project to create an investment fund of $10 billion.
Representatives of the Russian Direct Investment Fund (RDIF) and the China Development Bank (CDB) stated that they agreed on establishment of the Russia-China Investment Cooperation Fund. The project will be carried out soon – that’s for sure. The agreement was signed by the RDIF and the CDB representatives before Russian President Vladimir Putin and Chinese President Xi Jinping in Moscow. In a statement, RDIF said that creation of Russia-China Investment Cooperation Fund in the yuan will ease direct investments in national currencies. Special attention will be paid to projects within the One Belt, One Road initiative and the Eurasian Economic Union.
This is not the first joint fund of Russia and China. The countries have already established an investment fund of $14.5 billion for regional development and cooperation. The fund will allocate financial aid to projects in the Russian Far East and in the north-east regions of China.
