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Russian RDIF and Japanese JBIC set up $1bln joint Investment Fund

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Russian RDIF and Japanese JBIC set up $1bln joint Investment Fund

The Russian Direct Investments Fund (RDIF) and Japanese JBIC establish a joint investment fund with a total volume of $1 billion, the head of RDIF, Kirill Dmitriev, announced on Friday.

“Today we signed a very important document… on establishing a joint Russian – Japanese Investment Fund with JBIC company in amount of $1 billion. RDIF will have a minority stake in it, but we will invest an amount close to the half. The Fund will play a key role in financing joint Russian-Japan investment projects,” Kirill Dmitriev told reporters within the framework of the Russian – Japanese business forum.

According to Mr Dmitriev, the share of RDIF in the company will account for 49% against 51% of JBIC. The Fund will invest in the projects of agricultural, infrastructure and other fields. A total of 20 project will receive financing from the newly-established Fund.

He added that these investments will help to attract up to $10 billion in the country’s economy, since leading Japanese companies and bank will cooperate with the Fund.

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