As a result of the Chinese and Russian summit that occurred on Dec. 1, 2018, a new attempt to develop the Arctic region has been agreed upon by both nations to build infrastructure and economically sustainable developments.
“This new deal includes a 15 billion dollar investment in the Arctic and a transcontinental railroad from Manchuria to Vladivostok,” explained the Minister of Information and Technology in the Chinese cabinet. “This is new deal has the intention of increasing economic ties between both nations.”
The Russian press secretary continued: “These new developments will hopefully be beneficial to both nations so that these regions of immense economic potential may have that opportunity to do so.”
The 15 billion dollar investment in the Arctic, according to the Minister of Information and Technology, will “take the form of a loan.” No more details regarding the nature of the loan, such as the interest rate, have been released to the public.
“The People’s Republic of China firmly believes that by making this investment into the Russian Federation via a loan, both countries may benefit from this investment equally. The economic prosperity acquired by both nations through these developments in addition to the actual monetary aid the Russian Federation will receive will outweigh the other costs of implementing this new infrastructure in the Arctic region.”
This announcement comes after the de-escalation of tensions of both the American and Chinese delegations via another peace summit that occurred additionally on Dec. 1, 2017. More information regarding the timeframe for the implementation of this infrastructure and the other intricacies have not been made clear at this time yet.