Abu-Dhabi’s Department of Finance contributes up to $5 billion to create partnership with RDIF for investing in Russian infrastructure projects
Moscow, September 12, 2013 - The Russian Direct Investment Fund (RDIF) and Abu-Dhabi’s Department of Finance announce the creation of the partnership to invest in Russian infrastructure projects and develop cross-border investment cooperation.
The agreement was announced during the meeting of the Russian President Vladimir Putin with the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the United Arab Emirates Armed Forces Sheikh Mohammed bin Zayed Al Nahyan.
Under the agreement Abu-Dhabi’s Department of Finance will invest up to $5 billion in the partnership.
Investments made together by the parties will be guided by the principle of obtaining attractive returns on invested capital.
Kirill Dmitriev, CEO, Russian Direct Investment Fund (RDIF), said:
“We are pleased to welcome our partners from Abu Dhabi’s Department of Finance. Their $5 billion contribution is the largest investment from the Middle East ever made into Russia as well as one of the largest into an infrastructure fund globally.”
Hamad Mohammed Al Hurr Al Suwaidi, Chairman, Abu Dhabi Department of Finance, said:
“The signing of this memorandum and our commitment to invest up to $5 billion reflects our belief in the returns that can be generated from investing in Russian infrastructure. Sharing our collective international investment expertise and RDIF’s experience in Russia we expect to form a highly productive partnership.”