July 4, 2017 / 1:43 PM / 2 years ago

Moscow, Beijing to inject additional $1 billion into Russia-China Investment Fund

MOSCOW (Reuters) - Russian and Chinese sovereign wealth funds, the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC), will inject an additional $1 billion (£773 million)into the capital of their joint fund, the Russia-China Investment Fund, RDIF said on Tuesday.

RDIF added in a statement that another up to $2 billion could be provided by new investors which the fund did not name.

In a separate statement, RDIF said it had agreed with China Development Bank to establish Russia-China Investment Cooperation Fund in yuan worth 68 billion yuan or $10 billion, for direct investments in national currencies both in Russia and China.

Reporting by Katya Golubkova; Editing by Dmitry Solovyov

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