Russia, Turkey to form joint investment fundSource: www.export-egypt.com 9/4/2016, Location: Europe |
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Russian Economy Minister Alexei Ulyukaev said on Sunday President Vladimir Putin and his Turkish counterpart Tayyip Erdogan had agreed to form a joint investment fund between their two countries.
The two leaders met on the sidelines of the G20 summit in the eastern Chinese city of Hangzhou. . "We are concluding work on the formation of a Russian-Turkish investment fund," Ulyukaev said. "At the end of August, Turkey made the necessary legislative changes to create a corresponding partner to our direct investment fund - the Turkish sovereign wealth fund." . "I think by sometime in October or November we will have a list of projects and allocate a credit line to begin work." . Putin and Erdogan have been working to restore ties between the two former regional allies following the downing of a Russian plane on the Syrian border by Turkish forces last year. . Turkey announced plans for a sovereign wealth fund last month, intended to boost annual growth over the next decade and reassure investors unnerved by a failed coup attempt in July. |
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