EUR 200 million investment plan drawn up by the TWF and RDIFApril 8th, 2019
At the initial stage, the investments in the funds’ projects will amount to EUR 200 million. The total size of the Russia-Turkey Investment Fund is EUR 900 million. The parties have begun to develop joint projects in both countries, focusing on priority sectors such as technology, health care and infrastructure.
Zafer Sönmez, the Managing Director and Board Member of the Turkey Wealth Fund, said: “This is an important milestone for the TWF and we believe initiating investments through the RTIF in focused sectors will cement the relationship of both sovereign investment funds and further strengthen the relationship between Turkey and Russia. In line with the TWF’s revised mandate, the RTIF will play a crucial role in promoting a culture of co-investment, attracting top quality FDI, as well as facilitating a diverse business environment for both countries, catalyzing opportunities for the regional growth of Turkish and Russian companies.”
Kirill Dmitriev, the CEO of the Russian Direct Investment Fund (RDIF), noted: “We are pleased to announce the creation and launch of the Russia-Turkey Investment Fund as well as the start of work on joint projects with our Turkish colleagues. Today, the healthcare, infrastructure and technology sectors are among the sectors most ripe for investment and the development of our domestic economies. Once implemented, the projects will significantly improve living standards and substantially increase the volume and efficiency of business engagement between our countries.”