RDIF, Finance Ministry to create 600 bln rbl infrastructure fund

Prime, 22.01.2020

DAVOS, Switzerland, Jan 22 (PRIME) -- The Russian Direct Investment Fund (RDIF) and the Finance Ministry have agreed to create a 600 billion ruble infrastructure fund, RDIF CEO Kirill Dmitriev told reporters on Wednesday.

“We are creating an infrastructure fund that would allow us to finance the most important elements of infrastructure for promising large projects,” he said.

“The Finance Ministry and we have finalized a proposal on creation of an up to 600 billion ruble infrastructure fund in Russia that would invest following decisions of the supervisory board of the RDIF and the ministry of up to 20% of money of large projects in the form of infrastructure financing.”

The fund may start operations already in 2020, and the government would return the money invested via the fund through taxes on projects into which it was invested, he said.