Joint fund to be set up for infrastructure in BRICS

Russian Direct Investment Fund announced on Tuesday an initiative to form a joint fund to invest in the equity capital of BRICS nations' infrastructure projects.

Kirill Dmitriev, CEO of Russian Direct Investment Fund, announced it when he attended the sixth BRICS summit in Brazil.

"Every BRICS nation has huge potential to develop infrastructure projects, as well as a great need to attract a large volume of equity financing from foreign investors," said Dmitriev. "Establishment of such a fund would do much to address the challenge of insufficient financing for infrastructure projects in BRICS countries."

Since its inception in 2011, the RDIF has raised more than $12 billion in foreign capital by building long-term strategic partnerships with leading sovereign funds and State financial institutions of China, Japan, South Korea, Qatar, Kuwait, Bahrain, Italy and France.

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