Russia to present project to Asian Infrastructure Investment Bank

Russia intends to present its first transport infrastructure project to the Asian Infrastructure Investment Bank (AIIB) for consideration in the near future, Russian Economic Development Minister Alexei Ulyukayev said following the bank's first shareholder meeting.

"We'll present one project in the near future. It is nearly ready," Ulyukayev said, adding that the project should be both virtually ready and be acceptable to all in financial terms.

Russian borrowers are not really interested in borrowing in a foreign currency at the moment, Ulyukayev said. "Therefore, it's not very easy to find this balance, but there are projects meeting these [criteria]," Ulyukayev said.

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