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China Urges Russia to Invest for Silk Road

  •  Asia
Photo from intermarketandmore.finanza.com

 

The president of Association of Chinese Entrepreneurs in Russia,  Cai Guiru, declared that in total, China already allocated $40 billion for the new Silk Road project fund, Sputnik News reports.

"At the moment, $40 billion has been allocated for the Silk Road fund and development of capital projects. The first tranche of 10 billion is already on the fund's account," she said at a meeting with the Russian Federal Migration Service's chief.

In addition she urged  Russian companies to demonstrate more  willingness to join the project, noting that the Russian side has not yet created a Chinese investment portfolio.

"Russia should play a greater role in getting investments from this fund," Cai Guiru underscored stated.

Chinese initiative  new Silk Road is aimed at boosting political ties from the Pacific to the Baltic Sea and cutting barriers to trade and investment.

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