Russia’s participation in Asian Infrastructure Investment Bank to facilitate development of Far East - PM Medvedev

MOSCOW, June 25. /TASS/. Russia’s participation in the Asian Infrastructure Investment Bank will make possible to borrow inexpensive loans for the Far East, Prime Minister Dmitry Medvedev said on Thursday at the Cabinet meeting The bank was established at the suggestion of China to finance infrastructural projects in the Asia-Pacific. "Russia’s participation in it, especially in one of leading roles, fully satisfies our interests: a new financial institution will appear. It will broaden access of our companies to credit resources and this is fairly important, particularly in the current environment," the prime minister said. The Russian Far East may become "one of bank’s responsibility zones," the prime minister said. It practically means an opportunity of "raising inexpensive financing, using financial guarantees of the bank and the technical assistance," Medvedev said. "I hope this will contribute to development of the Russia’s Far East," he added. Read more