Turkey and Russia invest USD 1 billion in joint investment fund for special projects
Judging on the mutual steps taken, it seems that Turkey and Russia are determined to develop the economic relations between two countries. Most recently a statement to verify this observation has come from a top executive of RDIF who stated that Turkey and Russia would invest USD 500 million each, in a joint investment fund (called “Turkey Russia Investment Fund”) to be used for certain projects. It is reported that said formation will be funded by RDIF of Russia and Turkey’s Wealth Fund.
The Russian executive shared following:
“Wealth funds can have a very important role in finding required funds which will contribute to the economic growth of the country they are established in. Such funds can sustain its positive impact on economies both on global and local scales, by investing in promising companies, major infrastructural projects and social enterprises. They also help to build and strengthen the mutual political relations between countries.
The executive stated that the RDIF, which was established in 2011 to serve as a catalyst to attract direct investments to Russia and to jointly invest with leading global investors, had concluded more than 50 projects so far. He went on to say “Our fund has so far raised USD 20 billion approximately and has also managed to attract USD 30 billion in foreign capital through long-term strategic partnerships with the Russian economy”.
