The Russian Direct Investment Fund (RDIF) and Türkiye Wealth Fund (TWF) have signed a memorandum establishing the Russia-Turkey Investment Fund.
The parties will work together to identify attractive investment projects that could strengthen bilateral economic ties and increase investment flows between the two countries.
According to the agreement, RDIF and TWF will invest up to USD500 million each in the Russia-Turkey Investment Fund.
Kirill Dmitriev, CEO of the RDIF, says: “We are pleased that business activity gives impetus to the development of Russian-Turkish relations. RDIF is in close contact with its Turkish partners since TWF’s foundation. A common approach to the investment process will promote the development of economic cooperation and make it more effective. RDIF and TWF are already in talks on a number of potential joint investment projects.”
Mehmet Bostan, chairman and CEO of TWF, says: “We believe that the Turkey-Russia Investment Fund will accelerate the development of economic relations between two countries. Türkiye Wealth Fund and the Russian Direct Investment Fund will contribute to the growth and prosperity of their economies and will pursue mutually profitable investment opportunities both in Turkey and in Russia. We are also excited that this will be one of the first international initiatives of the newly established Türkiye Wealth Fund. We hope that it will be the first step towards a long lasting relationship between two institutions.”
