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Russian-Turkish investment fund worth $1bln may start work in 2017

Russian Economic Development Minister Alexey Ulyukayev said September 4 in China’s Hangzhou that work to establish a Russian-Turkish investment fund is being completed

© Vladimir Smirnov/TASS

MOSCOW, September 13. /TASS/. The Russian-Turkish investment fund worth $1 billion, to engage in providing loans to joint projects in priority spheres, may start work in 2017, Kirill Dmitriyev, the general director of the Russian Direct Investment Fund (RDIF), representing Russia in the joint project, told the Izvestia daily.

"The RDIF is already considering projects worth $300 million to be discussed within the framework of the Russian-Turksih investment fund in such sectors as agriculture, healthcare, tourism, infrastructure," Dmitriyev said.

"The RDIF has already established about 20 country partnerships, worth several hundred million dollars to several billion dollars each. The fund’s target size is set at $1 billion," he said.

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Russian Economic Development Minister Alexey Ulyukayev said September 4 in China’s Hangzhou that work to establish a Russian-Turkish investment fund is being completed.

"In late August, Turkey adopted the required legislative changes, a relevant partner of our Russian Direct Investment Fund has been created. Now our colleagues are working on the expert level. I think in October-November we will have a list of projects… to start working in those spheres," Ulyukayev said.

Earlier, Turkish Economy Minister Nihat Zeybekci said the Russian-Turkish investment fund will finance various projects, including in third countries.

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