CEO says RDIF launches 600 bln rbl infrastructure fund

Prime, 11.03.2020

NOVO-OGARYOVO, Moscow Region, Mar 11 (PRIME) -- The Russian Direct Investment Fund (RDIF) is launching an infrastructure fund worth up to 600 billion rubles, CEO Kirill Dmitriev said on Wednesday during President Vladimir Putin’s meeting with investors.

“Today we also announce that under your order and a decision of the Russian government, Mikhail Vladimirovich Mishustin supported it, we are launching an infrastructure fund worth up to 600 billion rubles, Dmitriev said.

“This fund will allow for the implementation of low-profitable projects as it will finance infrastructure of these projects, but the majority of funds will be given by private investors,” he said.

Dmitriev also said that the RDIF plans to launch joint venture funds with a number of state Russian companies, including with oil pipeline monopoly Transneft.

“We will also actively help Russian state companies with their venture programs, we plan to launch a number of funds with state companies, in the near future we will launch such fund with Transneft,” he said.

Dmitriev also said that the RDIF’s foreign partners plan to actively invest in Russia despite the external turbulence.

“Despite external turbulence, of course, our investors plan to invest actively in Russia. They see that the unique macroeconomic conditions have been created, a very low level of debt compared to the global level of debt,” he said.

“In Russia, the level of debt is very low, macroeconomic policies are extremely stable, investors confirm their desire to invest and, correspondingly, see that Russia has gone through many difficult situations before and will go through this as well.”