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Medvedev to chair conf on RF direct investments fund

June 05, 2013, 7:28 UTC+3

The RDIF management company is a 100-percent subsidiary of the Vneshekonombank of Russia

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MOSCOW, June 5 (Itar-Tass) - On Wednesday, Prime Minister Dmitry Medvedev will chair a conference dealing with the results of the operation of the Russian direct investments fund (RDIF) and its activities aimed at expanding possibilites for investment in infrastructure projects.

The meeting will be attended by First Vice-Premier Igor Shuvalov, Vice-Premier Arkady Dvorkovich, Finance Minister Anton Siluanov, First Deputy Chairman of the Central Bank Alexei Ulyukayev, Vneshekonombank Chairman Vladimir Dmitriyev, as well as by RDIF's foreign partners, a government press service official said.

The initiative to establish an investment fund to attract direct foreign investments to the economy of Russia was proposed at the World Economic Forum in Davos in January 2011 by the then RF President Dmitry Medvedev.

In all deals, RDIFacts as a co-investor together with the world's major institutional investors: funds for direct investments, sovereign funds, as well as leading sectoral companies.

The RDIF management company is a 100-percent subsidiary of the Vneshekonombank of Russia. The purpose-oriented amount of one investment on the part of RDIF is from $50 million to 500 million. It implies an average amount of joint-stock financing of a project from $100 million to $1 billion with due regard for a mechanism for co-investments. The size of RDIF share in a project must not be more than 50 percent, whereas the size of a co-investor's share has no limit. A withdrawal from investment is effected through Initial Public Offering at stock exchange or through the sale of a company to an institutional or relevant sector investor.

Over the period of its operation RDIF has invested more than $2.4 billion in the economy of Russia, with $0.52 billion out of the amount being RDIF resources and another $1.89 billion being provided from co-investors' funds.

The development of the Moscow stock exchange, OJSC "ENEL OGK-5", the Mother and Child Company, Maykor, and the KARO Film holding are among RDIF's leading investmprojects.

With RDIF assistance, investors put $3.2 billion into the Russian economy. Besides, RDIFhas established a number of long-term investment funds and platforms in conjunction with the institutions of the People's Republic of China, Kuwait, Japan, India, Germany, and France to attract investments, in the development of the Far East, in particular.

More than 50 investprojects are currently under consideration in RDIF. The aggregate amount of investments in them is over $10 billion, including those in the fields of medicine, petrochemistry, and the manufacture of equipment.


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