Projects approved as part of Investment Lift mechanism exceed RUB 8 bln
Sochi, 27 February 2017 - Since the launch of the Investment Lift programme, its participants have reviewed 27 projects, including projects in the machine-building, information technology, food, chemicals and pharmaceuticals sectors, with total investment of approximately RUB 40 billion. This information was provided during a press conference at the Russian Investment Forum in Sochi.
The press conference was attended by CEO of the Russian Direct Investment Fund Kirill Dmitriev, CEO of the Russian Small and Medium Business Corporation Alexander Braverman, representatives of the Russian Export Center Group and the Industrial Development Fund, as well as other business representatives.
Five projects with a total value of over RUB 8 billion have been approved from the programme’s overall list as of February 2017. Another ten projects are currently under consideration, including projects in the pharmaceuticals, machine-building, aircraft construction and manufacturing sectors, with a total value of RUB 13.115 billion.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said:
We see that the RDIF’s capabilities as a Russian sovereign fund that cooperates with leading global investors may be used not only to develop big Russian companies but also medium- and small-sized business with great potential for growth, including companies abroad. Through the consolidated effort of the four institutions participating in the Investment Lift programme, such companies are able to receive comprehensive support, both financial and non-financial, create new products, improve business efficiency and expand production when entering external markets. In the near future, the RDIF will announce new investments aimed at supporting leading companies in the Russian high-tech sector.
Alexander Braverman, CEO of the Russian Small and Medium Business Corporation, noted:
Supporting export-oriented companies and assisting them with the development of their production and technological potential remains one of the priority areas for development institutions, including in connection with the need to strengthen the position of Russian companies as they seek to expand internationally
Petr Fradkov, CEO of the Russian Export Center, said:
Russia today has businesses that can be competitive not only within the country, but on international markets as well. They are already demonstrating their effectiveness and great export potential, but they are also faced with with a lack of capital, technologies, personnel and equipment. The Investment Lift programme was established specifically to support them. The REC joined this initiative, because one of our key objectives is to create conditions for such companies to grow so that they can boost their market value and production volumes and establish themselves internationally .
Alexei Komissarov, Director of the Industrial Development Fund, stressed:
The Industrial Development Fund actively supports initiatives associated with coordinating the work of various development institutions, particularly when it concerns the implementation of export-oriented projects. The Fund’s co-financing programmes enable Russian enterprises to gain preferential access to financial resources that are required to set up the production of unique Russian-made products as well as analogues to the leading foreign-made products, including for export purposes.
The Investment Lift mechanism was launched in April 2016 to support high-tech projects by small- and medium-sized enterprises (SME) involving non-resource exports. It envisages the involvement of leading development institutions (the Russian Small and Medium Business Corporation, RDIF, the Industrial Development Fund and the Russian Export Center Group (REC, EXIAR and Roseximbank)) in activities to provide financial support to SME during various stages of their life cycles. As part of the Investment Lift mechanism, SME can count both on financial (equity and debt financing, provision of guarantees, export lending and insurance) as well as administrative and consulting support for projects, including when promoting companies and their products on targeted international markets.
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. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
For additional information contact:
Russian Direct Investment Fund
Director of External Communications
Tel: +7 495 644 34 14, ext. 2141
Mobile: +7 964 726 17 73
Andrew Hayes / Yulianna Vilkos
Tel: +44 (0) 20 7796 4133