RDIF, MinFin finalize proposals on infrastructure fund of up to 600 bln rubles
DAVOS. Jan 22 (Interfax) - The Russian Finance Ministry and Russian Direct Investment Fund (RDIF) expect to launch an infrastructure fund of up to 600 billion rubles in 2020, RDIF head Kirill Dmitriev said during the Strategic Outlook on Russia session at the Davos forum.
"We finalized the proposals in conjunction with the Finance Ministry on setting up an infrastructure fund in Russia of up to 600 billion rubles. The fund will invest up to 20% of the funds in large projects in the form of infrastructure financing as per the decision of the RDIF supervisory board and Russia's Finance Ministry," he said
Dmitriev said that the public funding of up to 20% of a project will be reimbursed to the government in the form of taxes after a project has been launched.
"We thus are creating an infrastructure fund to finance the most important elements of infrastructure for large, exceptionally prospective projects, and to increase investment in large projects, and the government will receive funds in the form of taxes following the launch of these projects," Dmitriev said.
"We believe that this fund will be in operation already this year," he said.