AIIB to give $300 mln loan to Russian Railways to support liquidity

BEIJING, Oct 23 (PRIME) -- The Asian Infrastructure Investment Bank (AIIB) will issue a U.S. $300 million loan to Russian Railways to solve liquidity problems, the bank said in a statement on Friday.

“To help alleviate the temporary liquidity constraints caused by the decline of long-haul passenger transportation and deferred client payments against the backdrop of the COVID-19 outbreak, AIIB is extending financing to Russian Railways in the local currency equivalent of $300 million,” the statement read.

“This AIIB loan will contribute to the company’s efforts to preserve jobs and the working conditions of employees and ensure continuous operations,” the bank said.

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