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If Russia borrows from the New Development Bank, it may trim its
borrowing plan at home where it uses so-called OFZ treasury
bonds to cover budget deficit.
Storchak said on Monday that Russia would lower state borrowing
via OFZ bonds if it had an option to raise money for building
roads and bridges from a development bank.
"With the new BRICS development bank alone we are now preparing
four new loans," Storchak said, adding that these loans
altogether would comprise slightly more than $1 billion.
The Russian Finance Ministry has earlier planned to raise around
1 trillion rubles ($16.08 billion) a year by selling OFZ
treasury bonds in 2018-2020.
Russia is part of the BRICS group, which also includes China,
Brazil, India and South Africa.
Russia has planned to increase issuance of OFZ bonds to raise
financing for a new set of decrees ordered by President Vladimir
Putin. The new decrees envisage investments of 8 trillion rubles
($128.60 billion) into Russia's infrastructure, healthcare and
education.
In May, Finance Minister Anton Siluanov said Moscow was creating
a special fund worth 3 trillion rubles to finance the
infrastructure projects over the next six years, while
continuing its regular borrowing via OFZ bonds for budget needs.
Russia's RDIF sovereign wealth fund and some of its partners,
including sovereign wealth funds from Asia and the Middle East,
said they were also interested in co-investing into Russian
infrastructure projects.
(Reporting by Darya Korsunskaya; writing by Maria Tsvetkova/Katya
Golubkova; Editing by Andrey Ostroukh and Alison Williams)
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