New Development Bank President (NDB) Kundapur Vaman Kamath said that NDB and Russian Railways intend to consider the Bank's participation in financing the Moscow - Kazan high-speed railroad (HSR), as reported by TASS Russian News Agency. Mr. Kamath also noted that the Bank has not received yet the official Russian Railways’ request for funding.
According to the President of NDB, a meeting with the First Vice-President of JSC High-Speed Rail Lines Alexander Misharin concerning the consideration of this initiative has been already scheduled. The meeting will be held in Russia or in Shanghai. During the meeting the parties are going to discuss the "prospects and long-term viability" of the project, Kundapur Vaman Kamath said.
Let’s recall that China plans to grant 400 billion rubles for the Moscow-Kazan HSR as a loan for 20 years, with more than 100 billion rubles as a contribution to the charter capital of the special project company. As Alexander Misharin stated you earlier, China does not request obligatory submission of sovereign state guarantees for the project. This means that the concession grantor, or the state within the concession agreement, provides all obligations.
Note:
New Development Bank was established by the BRICS states. Agreement on the establishment of the Bank was signed during the sixth BRICS summit in Brazil in 2014. NDB aims to become a platform for increasing mutual investments and trading among its member countries, as well as the financing the infrastructure projects in the BRICS states and developing countries. The amount of authorized capital of the bank is $ 100 billion, it is headquartered in Shanghai.
Source: http://www.hsrail.ru/
