Russian Investment Fund to set up joint mechanism for financing infrastructure in BRICS countries

Jul 9, 2015 15:15 IST

Russian Direct Investment Fund (RDIF) on 8 July 2015 signed framework agreements for equity investments in infrastructure projects in BRICS countries. The agreement was signed at the BRICS summit in Ufa.

The partners in the BRICS member-states include

• India’s IDFC (Infrastructure Development Finance Company) group
• Brazil’s BTG Pactual
• China’s Silk Road Fund
• The Development Bank of Southern Africa

Under this joint mechanism, the parties will work together to identify and finance infrastructure projects that will improve trade, economic and investment cooperation between BRICS countries.

This initiative, which was first announced by RDIF at the 2014 BRICS summit in Fortaleza (Brazil), was also supported by the BRICS Business Council.

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