The Russian Direct Investment Fund (RDIF) is planning to launch the first ever Russian-Arab investment fund, said Mr Kirill Dmitriev, Chief Executive Officer of the RDIF, during a meeting held between him and the Russian President Mr Vladimir Putin.
“After your meeting with a number of Arab leaders we are going to launch the first ever Russian-Arab investment fund, and our Arab partners will invest up to $1 billion in it”, he said to the Russian President.
According to Mr Dmitriev, there are also plans to establish, in cooperation with the Japanese Development Bank, a Russian-Japanese fund which will invest actively in projects in the Far East. The issue of developing the region is also studied jointly with the Russian VEB group.
In addition to this, Mr Dmitriev pointed at the first bargain of the Russian-Chinese fund, which dealt with a wood processing project. The volume of the joint investment in the project reached $110 million. He also underlined the importance of partnership with the Kuwaiti Investment Fund and partner ties with such countries as India, Germany and France.
The Russian Direct Investment Fund was founded in June 2011. Its goal is to make profitable investments in capital of companies, mainly on Russian territory, on the principles of co-investment. The managing company of the RDIF is a 100 per cent subsidiary of the Vnesheconombank.
Source: RIA Novosti