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Following the World Economic Forum, held on January 24–28 2011 in Davos, the Russian Government was instructed to submit suggestions on the formation and operation of a special fund for attracting foreign investments into Russia’s economy.
The Government finds it imperative to create a fund to attract foreign investments into Russian economy based on the following key provisions.
The Fund will serve exclusively to support investment projects based on co-financing with foreign investors; Vnesheconombank is to organise the creation of the Fund; the Fund is to be capitalised through the National Welfare Fund.
The Fund’s capitalisation, issues pertaining to creating a special managing company, basic terms and conditions for attracting investments and implementing investment projects, the Fund’s share in financing projects, and the necessity of a relevant clarification of Vnesheconombank’s functions will be determined in the course of further work.
The Government of Russia gave corresponding instructions to relevant federal executive agencies.
April 6, 2011