Bahrain’s sovereign fund to co-invest in projects of Russian Direct Investment Fund - minister

MOSCOW, December 25. /TASS/. The sovereign fund of Bahrain will act as a co-investor of almost all the projects of Russian Direct Investment Fund (RDIF), Russia’s Industry and Trade Minister Denis Manturov said in an interview with TASS on Thursday. The fund’s level of financial participation in deals will account for 5 percent of the total amount of investments, Manturov said. “This is a serious boosting. We have received these funds not from the West, we are getting these funds from our friends in the Middle East,” the minister said. The RDIF is a fund worth $10 billion, which was established by the Russian government in June 2011 to make equity investments primarily in the Russian economy. The fund has already set up joint funds in practically all the countries of Southeast Asia, the Middle East and Asia. “This is one of the sources and a very powerful and additional financial lever which we receive due to attracting new partners,” Manturov said. The RDIF earlier announced plans to invest in the construction of highways near Moscow and sought to attract financing from a sovereign fund of the United Arab Emirates-based Mubadala. Read more