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Russia and its Chinese partners set up two $1bn funds for Far East development

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Russia and its Chinese partners set up two $1bn funds for Far East development

The Russian Fund for the Far East and the Baikal region development expects to sign with investors from China an agreement on the establishment of two funds worth $1 billion each, Director General of the organization, Alexey Chekunov, told RIA Novosti news agency on Friday.  

The ceremony of the agreement signing is planned to be held at a Beijing Silk Road forum, scheduled for May 14-15.

“We hope that it will be signed in May. We have made a big job, we have been engaged in these activities for a long time. It seems that now a critical mass of will and comfort from the both sides has been formed to to launch these funds”, — he said.

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