Turkey’s Hurriyet Daily has confirmed Russia and Turkey have agreed to create a “Russia-Turkey Investment Fund” following President Recep Tayyip Erdoğan’s visit to Moscow early last week, where he met with President Putin to more broadly discuss technological cooperation, closer military ties and the future of action and local ceasefires in Syria.
The initiative was announced by the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and Turkey Wealth Fund (TWF) last week connected to the summit.
Via Russia Business Today
“At the initial stage the investments in the funds’ projects will amount to 200 million euros. The total size of the Russia-Turkey Investment Fund is 900 million euros,” the RDIF said in a statement.
The agreement of the new cooperative venture was signed in the presence of Erdoğan and Russian President Vladimir Putin, and will be central to assisting joint Russian-Turkish projects in the areas of technology, healthcare, and urban infrastructure.
“This is an important milestone for TWF and we believe initiating investments through RTIF in focused…