RDIF and Mongolian DBM Asset Management to create a joint Russia-Mongolia Investment Cooperation Fund
Ulan-Bator, September 3, 2019 - The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) announces a cooperation agreement partnership with DBM Asset Management (a subsidiary investment company of the Development Bank of Mongolia), to create a joint Russia-Mongolia Investment Cooperation Fund. The corresponding agreement was signed today as part of Russian President Vladimir Putin’s visit to Ulan-Bator.
The parties will focus on sourcing and implementing projects in the Russian Federation and Mongolia, which will contribute to developing the economic potential in both countries and to improving the business climate.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“RDIF is pleased to announce a partnership with DBM Asset Management, and I look forward to strengthening trade and economic relations between our countries through productive cooperation, jointly investing in projects and helping Russian companies gain access to markets both in Mongolia and more widely across the entire Central Asian region”.
Damdin Bolormaa, CEO of DBM Asset Management, said:
“The signing of this Memorandum is a big step forwards for further developing the economic relations between our countries. We are firmly convinced that our cooperation will be effective and fruitful, and that RDIF’s experience will help us to implement new large-scale projects. Today Mongolia is a vibrant emerging market with a favorable investment climate and vast natural resources. As a result, a number of major global investors are aware of and interested in Mongolia, our task now is to become a catalyst in attracting these investments. I expect RDIF to be included in this process and to contribute to the Mongolian economy as Russia has always been and will remain a key strategic partner.”
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund 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. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB1.5 tn and covering 95% of the regions of the Russian Federation. RDIF’s portfolio of companies employs more than 800,000 people and generates revenues which equate to over 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn. Further information can be found at www.rdif.ru
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Leach / Maria Shiryaevskaya
Tel: +44 (0) 20 7796 4133