RDIF, ASI, VEB, and the National Export Center launch programme to support growth of medium-sized non-resource companies

Press release, 18.06.2015

Saint Petersburg, 18 June, 2015 – The Russian Direct Investment Fund (RDIF), the Agency for Strategic Initiatives, State Corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)" and the National Export Center have signed an agreement to support Russian medium-sized non-resource companies through the implementation of an “Investment Lift” scheme. The agreement was signed at the St. Petersburg International Economic Forum.

The “Investment Lift” programme is designed to accelerate the development of medium-sized non-resource companies with export potential, or with the potential for import substitution. The programme aims to remove barriers to growth and build a dynamic environment for business. The programme’s objective is to increase revenue from exports in promising Russian companies and reduce the Russian market’s dependence on imported goods and services. The “Investment Lift” programme was approved on May 27, 2015 at a meeting of the Agency for Strategic Initiatives’ Supervisory Board, which was chaired by Russian President Vladimir Putin.

Under the agreement, the parties will focus on offering selective support to Russian companies with export potential or with the potential for import substitution. RDIF will focus on conducting detailed examinations of prospective companies and projects, organizing and analyzing due diligence, negotiating and agreeing on terms of financing, as well as providing funding for selected companies and projects. RDIF has set aside 15 billion rublesfor the implementation of pilot projects under the "Investment lift" scheme, approved by the Supervisory Board.

RDIF announces the creation of a Cell Therapy Centre as a pilot project under the "Investment lift" programme:

RDIF and the government health organization, N. I. Pirogov National Medical Surgery Center, are considering the possibility of establishing a world-class medical center specializing in the treatment of systemic autoimmune diseases (SAID), as well as oncological and hematological diseases, using stem cell transplantation. Treatment of systemic autoimmune diseases is particularly relevant in Russia: up to three million people in Russia suffer from SAID, 25 percent of which have reached varying stages of disability. The project will be implemented under the “Investment Lift” programme’s strategy of import substitution and increasing the export potential of Russian companies.

The new clinic will lower the disability rates within the working population and increase the life expectancy of the Russian population, reduce government spending on medical treatment, create new jobs in the medical sector and other related sectors through import substitution of medical technology, and enhance the reputation of Russian medicine on the international stage.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:

“Many Russian companies have significant export and import substitution potential. However, they lack the necessary capital to develop further. Our task is to remove these barriers and help them increase their capitalization and production volume. This will equip them to strengthen their position in international markets. The construction of a new, cutting-edge Cell Therapy Center will be RDIF’s first project within this initiative. The center will provide quality treatment to patients in Russia, bringing domestic medical facilities to far higher standards and lessening the need to seek medical services elsewhere.”

Andrey Nikitin, Director General of the Agency for Strategic Initiatives,said:

“Companies manufacturing competitive products are frequently short of financial resources, consultative and information support, assistance in administrative burden overcoming in order to enter into the global market. The mechanism of “Investment lift” will solve these problems and become “one window” for the program participants for obtainment of various services. Engaging the leading business associations of the country the Agency for Strategic Initiatives will perform the primary selection of projects for participation in the program”.

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The Russian Direct Investment Fund (RDIF)was established in 2011 to make equity co-investments, primarily in Russia alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information at rdif.ru

For additional information contact:

Maria Medvedeva

Russian Direct Investment Fund

Director, Media Relations Department

Tel: +7 495 644 34 14, ext. 2141

Mobile: +7 964 726 17 73

E-mail: mm@rdif.ru


Hudson Sandler

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