RDIF and JBIC agree key terms for Russia-Japan Investment Fund
The Russian Direct Investment Fund (RDIF) and the Japan Bank for International Cooperation (JBIC) have agreed the key terms and conditions for the establishment and operation of Russia-Japan Investment Fund.
Through the fund and joint investment framework, the parties will jointly pursue and implement attractive investment projects as part of trade, economic and investment cooperation between Russia and Japan.
Both parties confirmed those terms and conditions on the sidelines of the meeting between Russian President Vladimir Putin and Prime Minister of Japan Shinzo Abe during the official visit of the Japanese government delegation to Russia.
RDIF and JBIC signed the memorandum of understanding on the establishment of Russia-Japan Investment Fund in December 2016 during the Russian President's official visit to Japan.
The investment through the fund and joint investment framework will be made primarily in the sectors which were specified in “the eight-bullet-point proposal”, presented by the Japanese Prime Minister to Russian President at the Japan-Russia summit meeting held in May 2016, including healthcare, development of comfortable and clean cities, energy, cutting-edge technologies and developing industries and export bases in the Russian Far Eastern District, as well as other initiatives that will strengthen the trade and economic relations between the two countries
Kirill Dmitriev, CEO of the RDIF, says: “Joint investments of the Russian Federation and Japan can become the driver behind the growth of economic cooperation between our countries. We already see a steady interest from our Japanese partners in increasing the investment cooperation, which was explicitly indicated by Prime Minister Abe in 2016. Then, the Prime Minister proposed a number of priority areas for economic cooperation with Russia, and for many of them we have already found the common ground with our Japanese partners. I am confident that the investment partnership between RDIF and JBIC will accelerate the development and diversification of the trade and economic relations between Russia and Japan.”