RDIF partners with Chamber of Commerce and Industry Luso-Russia

14-11-2019

Brasilia, November 14, 2019 - The Russian Direct Investment Fund (RDIF) Russia's sovereign wealth fund, announces a cooperation agreement with the Chamber of Commerce and Industry Luso-Russia (CCILR).

CCILR was founded in May 2019 as a platform for cooperation between Russian companies and partners from Portugal as well as Portuguese-speaking countries. The announcement was made today on the sidelines of the BRICS Summit in Brasilia.

The partners intend to jointly identify attractive investment projects that will help strengthen bilateral economic ties and increase the volume of mutual investments between Russia, Portugal, Brazil and other Portuguese-speaking countries. The parties will consider the possibility of establishing a joint investment fund.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:

"RDIF continues to expand the geography of partnerships around the world. We hope that cooperation with CCILR will provide an opportunity to invest in various industries, strengthening trade and economic relations between Russia, Portugal and Brazil as well as creating multilateral investment partnership formats".

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Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF's management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB1.5 tn and covering 95% of the regions of the Russian Federation. RDIF's portfolio of companies employs more than 800,000 people and generates revenues which equate to over 6% of Russia's GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn. Further information can be found at www.rdif.ru

The CCILR mission is to promote a mutually beneficial economic relationship between Russia and Portuguese Speaking Countries at the highest levels of business and government via advocacy, engagement, and communications.

The CCILR creates a unique platform for companies to engage with policymakers from the Russia and Portuguese Speaking Countries and is a powerful conduit for inputs into the business negotiations, debates on key business policy issues, and future bilateral talks. Further information can be found at https://www.russiaportugal.org