RDIF gets 4 bln rbl to erase digital inequality

Prime News, 29.12.2014

The Russian Direct Investment Fund (RDIF) said Tuesday it had received the first, 4.05 billion ruble tranche from the National Wealth Fund to liquidate digital inequality in teamwork with state-controlled telecom giant Rostelecom.

The project is aimed at the provision of 13,600 towns with the population of 250–500 people with an access to the high speed Internet. The initiative stipulates the construction of about 200,000 new fiber optic connection lines.

The RDIF has set up special project companies in order to fulfill some projects, including the one with Rostelecom. The National Wealth Fund’s money, transferred to accounts of project companies, is raised through bond issues at a rate of inflation plus 1 percentage point.