Russia's central bank keeps key rate at 9%Business & Economy July 28, 13:47
Press review: Exiled Saakashvili to fight Poroshenko and Pentagon's chance to improve tiesPress Review July 28, 13:00
Putin approves Foreign Ministry’s statement in response to US sanctionsRussian Politics & Diplomacy July 28, 12:54
Moscow cuts back number of personnel in US diplomatic and consular missionsRussian Politics & Diplomacy July 28, 12:21
New Gromky corvette floated at Far East shipyardMilitary & Defense July 28, 12:02
EU set to approve expansion of anti-Russia sanctions due to Siemens by August — sourceWorld July 28, 11:20
FSB detains Central Asians on suspicion of plotting terrorist attacks in St PetersburgWorld July 28, 11:16
At least 48 people injured in Barcelona train accidentWorld July 28, 10:17
Expert warns new sanctions against Russia may drive wedge between US and EUWorld July 28, 8:25
BEIJING, October 11 (Itar-Tass) — The Russian Direct Investment Fund, China Investment Corporation and Vnesheconombank will create an investment fund worth up to 3-4 billion dollars.
They will seal this deal in Beijing in the presence of the two countries’ prime ministers Vladimir Putin and Wen Jiabao on Tuesday.
VEB chief executive officer Vladimir Dmitriyev told reporters that within the first seven years the project will be co-financed by each party’s 1 billion dollar contribution.
“But along with this we proceed from the assumption that we will find investors who will change this ratio for 1 to 4, which means that 1 billion dollars will be injected by Russia and 4 billion – by Chinese and outside investors,” he said.
The Russian Direct Investment Fund will control the fund’s management company.
The parties have already begun “to identify concrete projects.” “I am strongly confident that this will be a large-scale Russian-Chinese program for attracting investments into the Russian economy,” Dmitriyev said.