NDB President and Russian Railways CEO Discuss Potential for Cooperation in Xiamen

The New Development Bank (NDB) and JSC Russian Railways reaffirmed today their commitment to strengthen and promote cooperation during the meeting between the NDB President, Mr K.V. Kamath and the CEO of JSC Russian Railways, Mr. Oleg Belozerov.

The meeting was held on the sidelines of 9th BRICS Summit in Xiamen, China, and focused on potential partnership between the NDB and Russian Railways in implementing major infrastructure projects, including development of Moscow-Kazan high-speed railway, in member countries of NDB. Special emphasis was placed on the projects that would contribute to the development of trade and economic cooperation between BRICS countries.

The forthcoming signing of the Memorandum of Understanding between the New Development Bank and JSC Russian Railways on the sidelines of Eastern Economic Forum in Vladivostok was discussed during the meeting. Signing of the Memorandum of Understanding is a reflection of a developing partnership between the NDB and Russian Railways and will pave way for further strengthening of cooperation.