The speaker: the AIIB can begin to consider the first projects in the spring

The speaker: the AIIB can begin to consider the first projects in the spring

Organizational work will be completed in the first quarter of this year, so the Asian infrastructure investment Bank will start to consider construction projects in the second quarter, said Minister of economic development Alexei Ulyukayev.

BEIJING, 16 Jan. Asian infrastructure investment Bank (AIIB) can start to consider projects in the second quarter of this year, one of the first to Finance a project in Russia, told journalists the Minister of economic development Alexei Ulyukayev.

“We expect that in the second quarter,” Ulyukayev said, responding to a question about the timing of when the Board of Directors of the Bank will be considered first drafts. “The management assured us that they are all the organizational work in the first quarter will be held. And will be ready to consider projects,” he said.

Representatives of 57 countries-founders of AIIB on Saturday in Beijing gave the official start of operation of the Bank. Russia is the third largest party in the Bank after China and India, having received a 5.92% of the vote. China and India possess 26,06% and 7.5% of the vote respectively.

Yet, according to the Minister, to talk about specific projects early. “It infrastructure projects related to road construction, railway construction. We would like to work on those projects, which are interesting not only for us but also China, the countries of the EAEU,” he said.

“We talk about how that work is underway to mate the two integration projects. It’s the EEU and the Economic belt of the silk road. Probably, it would be reasonable to have these infrastructure projects fall into this category,” — said Ulyukayev.

Also, according to him, we can talk about the energy facilities of the Far East and Siberia. “We will prepare, the work is already underway. Prepare for the time when the Bank will consider projects corresponding to the package,” he said.

The agreement on establishing the AIIB was signed on 29 June 2015. In August 2015, ex-Deputy Minister of Finance of China Jin Liqun was elected President of the Bank. The Statute of the new financial Institute formally came into force on 25 December 2015.

The headquarters of the Bank established to Finance infrastructure projects in the Asia-Pacific region, is located in Beijing. The authorized capital is 100 billion dollars.

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