Russia, Turkey Set Up Joint $1b Investment Fund

Bloomberg, 03.04.2018

(Bloomberg) — Russian Direct Investment Fund and Turkey Wealth Fund sign agreement to contribute $500m each to joint investment fund, RDIF says in emailed statement.

* Fund to make investments in “projects that strengthen trade, economic and investment ties between Russia and Turkey,” with focus on infrastructure construction, health care and information technology

* “Our investment teams have already assessed exciting projects in the field of information technology and health care,” RDIF CEO Kirill Dmitriev says in statement

* Fund is “new bridge between Russia and Turkey,” Yigit Bulut, board member of Turkey Wealth Fund, says in same statement

* Agreement signed in presence of Turkish President Recep Tayyip Erdogan and Russian President Vladimir Putin at meeting in Ankara