NDB and Russian Railways Sign Memorandum of Understanding

On 6 September 2017, the New Development Bank (NDB) and JSC Russian Railways signed a Memorandum of Understanding to establish and formalize a framework for general cooperation. The Memorandum was signed by Mr. Xian Zhu, NDB Vice President, Chief Operations Officer and the President of Russian Railways, Mr. Oleg Belozerov on the sidelines of Eastern Economic Forum in Vladivostok.

According to the Memorandum, the Parties may cooperate in developing infrastructure projects, particularly high-speed railways, exploring private-public-partnership opportunities, sharing of knowledge and other areas.

The signing of the Memorandum of Understanding is a reflection of a developing partnership between the NDB and Russian Railways, and it paves the way for further strengthening of cooperation in implementing major infrastructure projects in member countries of the NDB, including potential development of Moscow-Kazan high-speed railway.