15:28 GMT22 June 2021
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    Japan Can Invest in Russia's Far East as Part of $110Bln Investment Plan

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    Russia’s Deputy Economic Development Minister Stanislav Voskresensky said that Japan can invest in Russia’s Far East as a part of its $110-billion plan to fund infrastructure projects in Asia.

    MOSCOW (Sputnik) – Japan can invest in Russia’s Far East as a part of its $110-billion plan to fund infrastructure projects in Asia, Russia’s Deputy Economic Development Minister Stanislav Voskresensky said Monday.

    Voskresensky made this statement in a televised interview after meeting Hiroshi Watanabe, head of the Japan Bank for International Cooperation (JBIC), the export credit agency of the country's government.

    "The head of the [JBIC] bank made it clear that this [investment opportunity] also concerns Russia and especially its Far East. Any interesting projects are eligible to claim the funds," Voskresensky told Rossiya-24 TV channel.

    In May, Japan revealed its initiative to allocate $110 billion to infrastructure projects in Asia, inspired by the China's Silk Road project and the Asian Infrastructure and Investment Bank (AIIB).

    Around $20 billion in investment funds will be allocated through Japanese financial agencies, including JBIC. In September, the bank announced that it would funnel $100 million in aid to develop the infrastructure of Russia's Vostochny Port on the Sea of Japan.


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