Rustam Minnikhanov: The New Development Bank provides the basis for financing the future

On May 28, during his working visit to Shanghai (China), Tatarstan President Rustam Minnikhanov took part in the opening of the third annual meeting of the New Development Bank.

Later the same day, Minnikhanov spoke at the seminar themed “The financing development in a changing global environment”, which was dedicate to modern technological trends that influence the future and operational environment of development institutions, including the New Development Bank.

Speaking at the seminar, Minnikhanov noted that the New Development Bank is keeping pace with the times, has a strategic vision and provides the basis for financing the future. "The Russian Federation and its regions pay special attention to developing cooperation with the bank, expanding cooperation in financing investment projects, including in the field of creating and developing innovative infrastructure. It is very important that the bank's headquarters is located in Shanghai, one of the world's economic centres,” Tatarstan President said.

Minnikhanov said that a year ago at the St. Petersburg International Economic Forum he met the President of the BRICS New Development Bank Kundapur Vaman Kamath to discuss the opportunities for bilateral cooperation. "Projects related to transport infrastructure, medicine, green energy, energy efficiency, housing and utilities and urban economy are among them. These areas are of great interest to our territory. A working group has already been established between Tatarstan and the New Development Bank. In March, colleagues visited and got acquainted with our republic. Also, in the near future we will submit a number of projects for consideration by the bank. One of the projects dedicated to the development of the historical part of Chistopol has already been approved,” Minnikhanov said.

Tatarstan is one of the leading Russian regions, Tatarstan President noted. The republic ranks fifth on industrial production and fourth in terms of investment in fixed assets. Tatarstan is an oil producing and refining region. Also, planes, helicopters, ships, cars are produced in the republic. Special attention is paid to innovative development.

"We are actively engaged in the development of infrastructure for attracting and developing small and medium-sized businesses. We are working on the development of artificial intelligence, blockchain, robotics. Our main investments are directed to the petrochemical complex and machine building. Moreover, it is planned to implement such large investment projects as the Europe-Western China International Transit Corridor and the Moscow-Kazan high-speed railway construction,” Minnikhanov emphasized.