AIIB agrees $300m equivalent loan to Russian Railways

The Asian Infrastructure Investment Bank is extending financing to Russian Railways (RZD) in the local currency equivalent of $300 million. 

RZD owns and operates Russia’s integrated national passenger and the loan will contribute to the company’s efforts to preserve jobs and the working conditions of employees and ensure continuous operations amid the COVID-19 crisis.

This project is funded by the AIIB Crisis Recovery Facility, and is AIIB’s first approved nonsovereign CRF project in Russia.