Italy and RDIF to set up $Ibn investment fund: Following talks between Russia’s President Vladimir Putin and Italy’s Prime Minister Matteo Renzi last week, the two countries have announced that Italy and the Russian Direct Investment Fund (RDIF) are to set up a $1bn investment fund to help encourage mutual investments. “Italy is one of our most privileged partners in Europe and the world,” Putin said. “Our trade and economic ties have remained in very good shape, despite some losses in connection with well-known developments.” Putin said he and the visiting Italian prime minister had discussed a range of measures to invigorate cooperation aimed at both maintaining the positive development over recent decades which have enable bilateral investment to exceed $3bn. Putin and Renzi also discussed the threat posed by terrorism in the Middle East and North Africa, particularly the rapidly deteriorating situation in Libya on Italy’s southern flank.
Italy and RDIF to set up $Ibn investment fund