The Silk Road Fund Signs Memorandum of Understanding with Vnesheconombank and the Russian Direct Investment Fund

Date：03 September 2015

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Beijing, September 3, 2015--Chinese President Xi Jinping and Russian President Vladimir Putin witnessed the signing of a memorandum of understanding (MOU) on investment cooperation between China's Silk Road Fund and Vnesheconombank and the Russian Direct Investment Fund.

According to the MOU, the Silk Road Fund and the Russian parties plan to jointly invest in infrastructure construction and industrial cooperation projects, as well as the power and energy sectors. The joint effort under the MOU is expected to promote links between the Silk Road Economic Belt and the Eurasian Economic Union as well as closer trade and investment cooperation between China and Russia.

The Silk Road Fund was established in December 2014 as a medium to long-term development and investment fund, based on the investment philosophy of openness and inclusiveness and mutual benefit. It operates in accordance with the principles of being market-oriented, international and professional, and seeks to steadily improve investment and finance cooperation between China and relevant countries and regions in the course of implementing the Belt and Road Initiative, and promotes common development and prosperity.

Vnesheconombank is a state investment agency of the government of the Russian Federation, and the Russian Direct Investment Fund is the equity investment fund wholly owned by Vnesheconombank.