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India, Russia sign MoU for funding of hydro-generation projects

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Russia’s Direct Investment Fund (RDIF) has signed a MoU with India’s Infrastructure Development Finance Company (IDFC) for funding of hydro-generation projects. This is an important step in economic cooperation between the two countries.

RDIF has signed a MoU with its partners in the BRICS member-states to work with sovereign funds, with the BRICS Bank and invest in the equity of infrastructure projects in these countries.

RDIF Director General Kirill Dmitriev said,” We have signed an MoU with five funds from our five countries: the Russian Direct Investment Fund, the Silk Road Fund from China, the IDFC (Infrastructure Development Finance Company) from India, the Development Bank of South Africa and the Brazil BTG Pactual fund.”

Russia which has lot of expertise in hydro generation has discussed the projects with IDFC of India.

What is RDIF?

  • The Russian Direct Investment Fund (RDIF) is a $10 billion fund established to make equity investments primarily in the Russian economy.
  • The aim is to act as a catalyst for foreign direct investment, talent and technologies into Russia by attracting leading international co-investment partners.
  • RDIF has attracted over $15 billion of foreign capital into the Russian economy through long-term strategic partnerships.