RIYADH, October 25. /TASS/. The Public Investment Fund (PIF), the sovereign fund of Saudi Arabia, will invest $500 mln into the Russia-China Investment Fund (RCIF) established earlier by the Russian Direct Investment Fund (RDIF) and the China Investment Corporation, RDIF says on Thursday.

The decision was made after talks between RDIF and PIF at the Future Investment Initiative forum in Riyadh.

"Contribution of PIF into RCIF will amount to $500 mln by agreement between the parties. Therefore, the capital of $2.5 bln will be accumulated under RDIF control [RDIF and China Investment Corporation invested $1 bln each into RCIF]. The trilateral Russia-China-Saudi investment fund will be established as a result of the transaction," the Fund says.