CEO: RDIF can raise 7 tln rbl from partners to Russia’s devt fund

Prime, 18.06.2018

MOSCOW, Jun 18 (PRIME) -- The Russian Direct Investment Fund (RDIF) will be able to attract over 7 trillion rubles from foreign partners, CEO Kirill Dmitriev told President Vladimir Putin on Monday.

“We think that we can raise more than 7 trillion rubles from our partners, co-investors per the 3 trillion rubles that are to be invested through the development fund… to invest in both infrastructure and technologies,” Dmitriev said.

Putin earlier signed a decree on Russia’s national goals and strategic development tasks till 2024 in which he ordered the government to ensure the country’s entry into the top five of global economies, a higher than global rise of the national economy, and inflation not exceeding 4%.

The government will establish a development fund and will allocate 0.5% of the gross domestic product (GDP) a year of additional borrowing to the fund, or 3.5 trillion rubles within six years. According to Finance Minister Anton Siluanov, the fund will help launch digital economy projects, support exporters, help small and medium business.