RDIF invested $2 bln from NWF into various projects - chief executive

TASS, 17.01.2020

The Russian Direct Investment Fund (RDIF) invested 125 bln rubles ($2 bln) from the National Wealth Fund (NWF) into various projects and showed good returns, RDIF chief executive Kirill Dmitriev said on Friday at the meeting with President Vladimir Putin.

"Owing to your support, we invested 125 bln rubles ($2 bln) out of NWF resources into various projects and showed the returns being 30% higher than the like returns when investing into US securities," Dmitriev said.

Elimination of digital inequality, smart networks and development of Sibur’s petrochemical facility are among important projects, the RDIF chief said. "Therefore, we indeed demonstrate and see that NWF resources can work for the Russian economic growth," Dmitriev noted.

"As far as the artificial intelligence is concerned, the partners allocated $2 bln to us for different investments and we are bringing many our companies to Middle East markets. This pertains also to a company on satellite information analysis, a company [dealing with] face recognition. That is, we make our companies more global," Dmitriev said.