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Investment   The Russian Direct Investment Fund

Russia, Japan plan $1 billion investment fund

Putin AbeRussia and Japan will create a $1 billion fund for equity investments in bilateral projects such as pharmaceuticals and energy.

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The Russian Direct Investment Fund and Japan Bank for International Cooperation will each invest $500 million in the fund, RDIF Chief Executive Kirill Dmitriev told The Wall Street Journal in an interview.

The plan is part of a series of economic deals confirmed on the sidelines of summit talks between Russian President Vladimir Putin and Japanese Prime Minister Shinzo Abe in Japan.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted: "The Russia-Japan Investment Fund has received broad support from the Russian and Japanese authorities and is intended to become a key mechanism for investment cooperation between our countries.

"The creation of the fund will accelerate the implementation of joint projects and bring the work of RDIF and JBIC to a new level. It will likely operate as an independent structure and its first deals are expected in the coming year."

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