January 22, 2020 / 3:39 PM / in a month

DAVOS-Russia to set up $9.6 bln infrastructure fund - RDIF's Dmitriev

DAVOS, Switzerland, Jan 22 (Reuters) - Russia will create a major new fund for infrastructure projects and plans to allow its sovereign wealth fund to begin investing together with domestic, as opposed to just foreign, partners, the head of the sovereign wealth fund said on Wednesday.

The new infrastructure fund, to be set up by the Russian Direct Investment Fund (RDIF) together with the Russian Finance Ministry, will be worth up to 600 billion roubles ($9.68 billion) and will be able finance up to 20% of Russia’s key infrastructure projects, RDIF chief Kirill Dmitriev said at a session of the World Economic Forum in Davos. ($1 = 61.9619 roubles) (Reporting by Polina Devitt; Writing by Polina Ivanova; editing by)

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