23:21 GMT +316 December 2018
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    China Development Bank mulls investment in Russia's Far East

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    VLADIVOSTOK, May 19 (RIA Novosti) - A delegation from the China Development Bank has visited the Sakhalin Region in Russia's Far East to discuss a cooperation agreement, a local official said Friday.

    The sides discussed the prospects for Chinese investment in the construction of affordable housing and financing the oil industry, fishing and forestry in the region.

    "Sakhalin Governor Ivan Malakhov started work on this agreement during his March visit to China as part of an official delegation led by President Vladimir Putin," the official said.

    State-run China Development Bank was founded in March 1994. It has been a major player in long-term financing for key projects in China's industrial development.

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