China agrees to underwrite $2bn agricultural investment fund with Russia

Russian Direct Investment Fund CEO Kirill Dmitriev

Russian Direct Investment Fund CEO Kirill Dmitriev

$2bn Agricultural investment fund: Russia and China have agreed to set up a $2bn investment fund specialising in agricultural projects, with Russia as the minority shareholder, Russian Direct Investment Fund’s (RFPI) chief Kirill Dmitriev said today. “Basically it will be funded by Chinese institutional investors, especially those with significant experience in investment in the agricultural sector,” he said. The agreement, designed to strengthen the cooperation between Russia and China in the fields of agriculture, farming, processing, customs clearance, logistics and food sales, is to be signed during the course of President Xi Jinping’s current visit to Moscow. Signatories will be the RFPI, the Russian-Chinese Investment Fund (RKIF) and the People’s Government of Heilongjiang Province.

Source: Rosbalt