Russian fund of direct investments (RFDI) and the world’s largest state investment company “China Investment Corporation” (CIC) has signed a contract on creation of joint fund of 4 billion dollars.
According to the memorandum, at the first stage both RFDI and CIC should transfer one billion USD into the capital. The rest of the sum should be attracted from private investors in China.
Most of the assets (70%) belonging to the new organization will be invested in Russia and CIS projects, and only 30% in China.
The fund will become the largest one on direct investment in Russia. It will also become the first investment project for CIC in the developing-counties market.
Author: Irina Fomina