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    June 1, 2017. Russian President Vladimir Putin meets with activists of the international expert council of the Russian Direct Investment Fund and representatives of the international investment community in the Constantine Palace in Strelna at the 2017 St. Petersburg International Economic Forum

    Russian Direct Investment Fund to Get Additional Capital in 2017

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    The Russian Direct Investment Fund (RDIF) will get additional capital in 2017 from RDIF’s 10-percent quota in the National Welfare Fund, according to a source.

    MOSCOW (Sputnik) — The Russian Direct Investment Fund (RDIF) will receive additional capital in 2017 and the required amendments to the budget are to be reviewed by the parliament in the fall, a source familiar with the situation told Sputnik on Tuesday.

    "RDIF is going to get additional capital in 2017. The money will come from RDIF’s 10-percent quota in the National Welfare Fund, the appropriate decision was made. Necessary amendments into the state budget are going to be considered by the Parliament during the autumn session. The same mechanism is going to be used in federal budgets of the years 2018, 2019 and 2020," the source said.

    According to the source, the capital injection would be carried out in accordance with the executive orders of Russian President Vladimir Putin and Prime Minister Dmitry Medvedev and the capital of the fund should reach the planned level of $10 billion.

    A RDIF representative declined to comment on the matter.

    On Monday, Russian President Vladimir Putin held a meeting with RDIF CEO Kirill Dmitriev, with the latter reporting that one trillion rubles [$16.6 billion] was invested in various Russian companies since the fund had begun its work, with the fund using 100 billion rubles of its own money and rest covered by its partners.

    The RDIF, founded in 2011, directly invests in established and promising Russian companies alongside the world's leading investors.

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    Tags:
    investments, National Welfare Fund, Russian Direct Investment Fund (RDIF), Russia
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