MOSCOW, March 9 Russian Direct Investment Fund
(RDIF), Russia's sovereign wealth fund, and the Israeli
investment company LR Group have agreed to co-invest $100
million into dairy farming and milk processing in Russia.
The sum represents the first phase of joint investment for
which regional projects are already being analysed, a statement
from RDIF said.
A global oil slump in recent years, western sanctions and
counter sanctions have pushed Moscow to work towards
diversifying its resource-based economy.
Russian and Israeli cooperation in agriculture was earmarked
as a priority during Israeli Prime Minister Benjamin Netanyahu's
visit to Moscow on Thursday.
"Adaptation of the best technologies and creation of
vertically integrated regional dairy clusters will significantly
increase milk production," Ami Lustig, CEO of LR Group Israel,
said in a statement.
(Reporting by Dasha Afanasieva; editing by Katya Golubkova)