Beijing and Moscow to Pour $15 Billion Into Developing the Far East
The practical side of One Belt, One Road
China and Russia are planning to set up a joint regional development and cooperation investment fund with a total amount of 100 bln renminbi (around $14.5 bln) to bolster the development of Russia’s Far East and Northeast China.
According to the materials released at the Belt and Road forum, its initial amount totals 10 bln renminbi (about $1.45 bln).
"The State Committee for Development and Reform of China will establish a 100 billion yuan Russian-Chinese investment fund for regional development and cooperation with an initial capital of 10 billion yuan to promote cooperation between Northeast China and the Far East," the document said.
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