RDIF, RUIE, Yandex and Mail.ru Group announce alliance against COVID-19

Press release, 19.03.2020

Moscow, March 19, 2020 – The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, RUIE (the Russian Union of Industrialists and Entrepreneurs), Yandex and Mail.ru Group announce the creation of an alliance against coronavirus (COVID-19).

The main objective of the Alliance is to ensure operational testing of the population using the best available technologies, as well as industrial safety and uninterrupted operation of Russia’s largest enterprises. The leading Russian clinics and laboratories will take part in the project. A pilot project based on a system of Russia-Japanese express tests will be launched in April at RUIE enterprises members.

The Alliance has proposed a series of regulatory changes for prompt testing of the people. Russian Prime-Minister Mikhail Mishustin has approved these changes. 

RUIE will actively participate in the work of the Center for Expertise on Testing and Application of World Practices to Combat Coronavirus, created by RDIF.

The approved innovative Russia-Japanese testing system is a unique solution, one of the most effective in diagnostics COVID-19, with high mobility, accuracy and speed of testing. It uses the method of isothermal molecular diagnostics, which is as accurate as generally accepted PCR (polymerase chain reaction) technology, but it reduces the testing time by more than 4 times, from two or more hours to 30 minutes.

The range of test systems is adapted both for stationary laboratories and for unique portable mini-laboratories and is ready to be used everywhere.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said: 

“One of the key conditions for defeating the coronavirus is to combine the efforts of leading institutions and companies with expertise on a wide range of issues. We strive to support promising research and systems in the fight against the virus, to provide financial support and technological introduction of advanced technologies and practices to maximize the coverage of the population and to quickly overcome the effects of the virus”. 

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Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totaling more than RUB1.7 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn. Further information can be found at www.rdif.ru

For additional information contact:

Arseniy Palagin                                       Andrew Leach / Maria Shiryaevskaya
Russian Direct Investment Fund               Hudson Sandler
Press Secretary                                        Tel: +44 (0) 20 7796 4133 
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru