The recapitalization of the Russian Direct Investment Fund (RDIF) will be performed using the resources from Russia’s National Welfare Fund (NWF), the TASS news agency reported on July 25, 2017. The relevant amendments to Russia’s federal budget were forthcoming during the fall session of the Federal Assembly. Similar allocation mechanisms are expected to be built into the federal budget for 2018 and for the planning period of 2019 to 2020. In line with the directives of the Russian President and the Prime Minister, the RDIF is to be replenished to USD10 billion.

On July 24, Russia’s President Vladimir Putin held a meeting with RDIF’s CEO Kirill Dmitriev. Mr. Dmitriev reported that more than one trillion rubles (USD16.6 billion) was invested in various Russian companies within the six years since the fund was launched.

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.