Russia Investment Fund May Raise $500M In ‘11

Russia’s newly launched direct investment fund may raise nearly $500 million in 2011 to finance one or two projects,The Moscow Timesreports. TheChinese InvestmentAgencyis interested in financing projects in Russia in partnership with theDirect Investment Fundas well as independently.

Other investors are interested in the innovation sector, pharmaceuticals, medical equipment, food industry, agriculture and energy efficiency as well as other sectors focused on middle-class consumers. The fund’s management company was registered in June 2011 as a 100% subsidiary ofVneshekonombank.

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