RDIF announces support measures for regional projects

Press release, 22.04.2020

Moscow, April 22, 2020 - The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, announces that the Center for the promotion of investment into Russia’s regions has launched a special program to support projects amid the efforts to fight the spread of coronavirus.

Investing in the fight against coronavirus

As part of this program, there will be an accelerated procedure for analyzing projects in the Russian regions manufacturing equipment and products for the prevention and control of coronavirus. An expedited funding review process is also provided for these projects if they comply with RDIF’s mandate.

RDIF began sharing information with federal and regional development institutes, regional administrations, business associations and public organizations in order to coordinate the support of those companies that are involved in the fight against coronavirus and requiring resources to meet the growing demand for their products and services.

Support for companies

RDIF is also evaluating various options with leading and promising regional companies that have found themselves in a difficult situation due to the spread of coronavirus. The Fund receives information about these companies through work conducted jointly with the Federation Council, administrations of subjects, and other development institutions.

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

“RDIF is consolidating efforts with all existing and potential participants in the fight against coronavirus. We are ready to provide investment and support for the companies in Russia’s regions that are involved in the development of technologies and the production of personal protection and other equipment including for prevention of the virus. We look forward to working with representatives of the regions and supporting these applications. Thanks to our network of partnerships, RDIF has developed advanced expertise in the fight against COVID-19 and is ready to share it with every party interested in overcoming the virus and achieving an early victory”.

Funding applications can be filed at https://ru.investinrussia.com/submit-your-project-to-rdif

In March RDIF joined forces with RUIE (the Russian Union of Industrialists and Entrepreneurs), Yandex, Mail.ru Group and Rossiya Segodnya international news agency – the parties created an Alliance against coronavirus (COVID-19). The main objective of the Alliance is to ensure industrial safety and uninterrupted operation of Russia’s largest enterprises, including those in the regions, and operational testing of the population using the best available technologies.

***

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.

RDIF takes active steps to counteract COVID-19:

• Jointly with the ChemRar Group, RDIF is launching the production of Favipiravir, a drug that has proven effective in the treatment of infected patients in China;

• Jointly with Japan’s K.K. Mirai Genomics, RDIF has invested in the production and distribution of the Russian-Japanese diagnostic system EMG - Evotech-Mirai Genomics, which is one the world’s most accurate and fastest systems for the detection of coronavirus. Results are achieved in just 30 minutes. A range of testing systems has been adapted for use in both fixed laboratories and unique portable mini-laboratories (the size of a small suitcase) which can be used anywhere, including hospitals and public institutions such as schools, offices, airports and train stations.

• RDIF was one of the initiators of the Alliance against coronavirus, which also included the Russian Union of Industrialists and Entrepreneurs (RUIE), Yandex, Mail.ru Group and the Rossiya Segodnya international news agency;

• Alongside Rossiya Segodnya, RDIF has published a unique “Handbook of COVID-19 Prevention and Treatment”, based on China’s experience in the fight against coronavirus. The Handbook is available at: https://rdif.ru/data/file/COVID_19_Book.pdf

Further information can be found at rdif.ru

For additional information contact:
Arseniy Palagin
Russian Direct Investment Fund
Press Secretary
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru

Andrew Leach / Maria Shiryaevskaya
Hudson Sandler

Tel: +44 (0) 20 7796 4133

Dmitry Poletaev
Center for the promotion of investment into Russia’s regions
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2311
Mobile: +7 910 474 15 24
E-mail: 
dmitry.poletaev@rdif.ru