Russia may just have found the white knight it is looking for: one week after a pledge from China’s sovereign wealth fund to invest in the country’s latest round of privatization, the country’s second largest bank has thrown it’s proverbial hat into the ring.
The news will be welcome relief to Moscow’s mandarins. President Demetri Medvedev’s top economic adviser recently told the FT Russia needed to improve its investment climate amid growing capital flight.
Speaking to Chinese media about investing in Russia’s banking sector, Zhang Jianguo, the president of China Construction Bank said: “If we have a right opportunity, we will not miss the opportunity.”
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