Tuesday, 7 July 2009
Russia is to set up an infrastructure investment fund with Vnesheconombank, Renaissance Capital Group, the EBRD and the International Finance Corporation, which is part of the World Bank.
The news was announced by the Vnesheconombank CEO on Tuesday.
Vladimir Dmitriyev said that the fund will also include the Development Bank of Kazakhstan and international investment company the Macquarie Group, with the agreement to be signed in the near future.
U.S. Secretary of Commerce Gary Locke said at a Russian-U.S. business summit in Moscow on Tuesday that Russia and the United States should expand mutual investment amid the ongoing global economic crisis.
Locke said that bilateral cooperation was, on the whole, developing successfully. He said that Russian companies had not been denied the chance to invest in the U.S. economy and were successfully implementing projects in the steel and mining industries, the retail business and the fuel and energy complex, as well as other industries.
