Russian Direct Investment Fund and Silk Road Fund Strengthen Ties
Over the past three years, China and Russia have been brought closer together, both economically and politically. The Russian Direct Investment Fund (RDIF) has strengthened ties with China, specifically with the country’s Silk Road Fund, a massive infrastructure and project financing vehicle worth about US$ 40 billion. In addition, the State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) plans to be a part of a cooperative arrangement to explore investment opportunities in China and Russia. Areas of cooperation will include infrastructure, industrial production, energy development and energy efficiency. This is serving as a backdrop to Russian President Vladimir Putin’s official visit to China.
In May, the RDIF and CITIC Merchant announced the formation of a Russia-China Investment Bank.