Russia and Turkey to create a join investment fund

Baku. 13 September. REPORT.AZ/ Russia and Turkey will establish a joint investment fund worth 1bln US dollar.

Report informs, General Director of the Russian Direct Investment Fund (RDIF), Kirill Dmitriyev said.

According to him, a new fund is being established to finance joint projects to be implemented in the priority areas. Mentioned projects are agriculture, healthcare, tourism, infrastructure.

“At present, establishment of the souvereign fund is almost completed in Turkey. The very fund and RDIF will organise formation of a joint fund. It is important that the creation of a Turkish and Russian-Turkish Foundation is used an experience of Russian Direct Investment Fund", said K.Dmitriyev.

He noted that the Russian Direct Investment Fund is actively working with Turkish partners, there is an agreement on implementation of projects in Russia with Turkish Rönesans Holding, which is engaged in construction and real estate investments, analyzed a number of transactions with other companies in different industries and regions.

RDIF chairman emphasized that the creation of a new fund will enable systematic finance the Russian-Turkish investment projects: "Russian Direct Investment Fund is already considering projects worth $300 million for their discussion in the framework of Russian-Turkish Investment Fund in sectors such as agriculture, health, tourism and infrastructure. RDIF created about 20 country partnerships, ranging from several hundred million to several billion of each. In this framework we believe also in establishment of the fund."

The new fund may start in 2017, but the study of long-term projects already underway. According to experts, the fund will strengthen business relations between the countries, but over-ambitious projects it needs more money.