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Russia, Turkey plan to sign memorandum on over $1 bln joint investment fund

September 02, 2016, 13:18 UTC+3 MOSCOW

The joint investments of the mooted Russia-Turkish fund may be launched in 2017

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MOSCOW, September 2. /TASS/. Russia and Turkey plan to sign a memorandum on the establishment of over $1 billion joint investment fund during the G20 forum in China’s Hangzhou on September 4-5, Kirill Dmitriyev, the head of the Russian Direct Investment Fund (RDIF), said in an interview with Rossiya-24 television channel.

"We will be having important negotiations with Turkey," Dmitriyev said. "We will sign a memorandum of the formation of the joint Russian-Turkish fund on the sum of over $1 billion."

Dmitriyev earlier made statement that the joint investments of the mooted Russia-Turkish fund could be launched starting in 2017.

Turkey’s Economy Minister Nihat Zeybekci said at talks on July 26 that the investment fund of Russia and Turkey could be financed by various projects, including in the third countries as well.

It had been reported earlier that RDIF’s partner in the formation of the joint investment fund would be Turkey’s Sovereign Wealth Fund.

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