The Russian Direct Investment Fund (RDIF) and Abu-Dhabi’s department of finance have created a partnership for investing in Russian infrastructure projects and developing cross-border investment cooperation between the countries.
Under the agreement Abu-Dhabi’s department of finance will invest up to USD5bn in the partnership.
When implementing investments, the parties will be guided by the principle of obtaining the attractive returns on invested capital.
It is expected that partnership will officially be formed by the end of 2013.
Kirill Dmitriev, chief executive, RDIF, says: “We are pleased to welcome our partners from Abu Dhabi’s department of finance. Their USD5bn contribution is the largest investment from the Middle East ever made into Russia as well as one of the largest inputs to an infrastructure fund globally.”
Hamad Mohammed Al Hurr Al Suwaidi, finance minister in Abu Dhabi, says: “The signing of this memorandum and our commitment to invest up to USD5bn reflects our belief in the returns that can be generated from investing in Russian infrastructure. Sharing our collective international investment expertise and RDIF’s experience in Russia we expect to form a highly productive partnership.”