On March 10, the Russian Direct Investment Fund (RDIF) will announce the establishment of a Russian-Turkish investment fund with a total amount of $1 billion, TASS news agency reports on Friday.
RDIF will enter into this undertaking jointly with the newly established Sovereign Wealth Fund of Turkey, the press office of the Russian organization said. “The statement will be made over the course of the Russia-Turkey negotiations in Moscow,” the source in RDIF added.
As it was reported earlier, in mid-2016, the Sovereign Fund of Turkey and the Russian Direct Investment Fund agreed to set up a joint investment fund.
The head of RDIF, Kirill Dmitriev, noted that within the framework of the fund, “similar mechanisms of joint investments, as is the case in regard to the UAE and China” would be created.