RDIF: Russia, Mongolia to set up fund of investment cooperation

Prime, 03.09.2019

ULAN-BATOR, Sep 3 (PRIME) -- Russia and Mongolia will sign an agreement on creation of a fund for investment cooperation, the Russian Direct Investment Fund’s (RDIF) CEO Kirill Dmitriev told reporters on Tuesday.

“Today the RDIF is signing an important agreement with a Mongolian investment fund on creation of a Russian–Mongolian fund of investment cooperation,” he said.

The fund is aimed at significantly raising the volume of investment cooperation. “Now it is just tens of millions of dollars annually, but we believe it could amount to hundreds of millions of dollars per year,” Dmitriev said.

RDIF said in a statement it will create the fund with DBM Asset Management, a subsidiary investment company of the Development Bank of Mongolia.

President Vladimir Putin said the fund will operate in national currencies.

The sides will actively implement new projects, including in the sphere of infrastructure, mining industry, the energy and agricultural sectors, Putin said following talks with Mongolian President Khaltmaa Battulga.