Russia vows to join Chinese-led development bank

12:35 * 28.03.15

Russia has signaled its readiness to take part in the China-led Asia
Infrastructure Investment Bank (AIIB), in a move that will most likely
bolster bilateral relations, Sputniknews.com reported.

Russian Deputy Prime Minister Igor Shuvalov has said that his country
is ready to join the China-led Asian Infrastructure Investment Bank
(AIIB), media reports said.

“I would like to inform you that Russian President Vladimir Putin has
made a decision on Russia’s participation in the capital of the Asian
Infrastructure Investment Bank”, Shuvalov said.

He added that Russia hails China’s Silk Road Economic Belt initiative
and is poised to bolster cooperation between the Eurasian Economic
Union and China.

Shuvalov spoke during the 2015 annual Boao Forum, which is being
hosted by China under the title

“Asia’s New Future: Toward a Community of Common Destiny.” High on the
agenda is a host of pressing issues related to macroeconomics,
technological innovation, politics, security and regional development.

The AIIB is an international financial institution which was
established in 2014 at the behest of the Chinese government. Beijing
wants to see the bank operational before the end of this year. The
authorized capital is expected to total about 100 billion dollars