The investment boom in Russia could provide a new infrastructure fund with 20 billion rubles ($670 million) in capital. The anchor investor in the fund may be VTB Capital, the creditor may be Gazprombank and the managing company could be Lider.
The Economic Development Ministry has prepared a draft proposal for an Infrastructure Fund, a copy of which was obtained by Vedomosti. The project has not been presented officially yet to other government officials, but it has been discussed at First Deputy Prime Minister Igor Shuvalov’s working groups.
At the St. Petersburg International Economic Forum on June 18, under the slogan "Russia needs an investment boom,” President Dmitry Medvedev announced that the government is ready to create institutions that will help to attract investment for modernizing the economy.
Medvedev then immediately ordered the government to explore "the idea of creating a special investment fund, in which public funds will be supplemented by private capital." The formula: One ruble of state investment is expected to attract three rubles of private investment.
The fund is intended to run for 10 years, and it could create an exit for investors either by selling assets or by making an initial public offering.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.