MOSCOW, March 10. /TASS/. The Russian direct investment Fund (RDIF) on March 10 announced the creation of a Russian – Turkish investment Fund amount to $1 billion, together with the Sovereign wealth Fund of Turkey, reported the press service of the FUND.

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Russian-Turkish economic relations. Dossier

“On March 10 the Russian direct investment Fund plans to announce the creation of a Russian-Turkish investment Fund amount to $1 billion, together with the newly established Sovereign wealth Fund of Turkey. The announcement will take place in the course of negotiations of presidents of Russia and Turkey in Moscow”, – said the press service of the Fund.

As previously reported, the sovereign Fund of Turkey and the Russian direct investment Fund agreed in mid-2016 on the establishment of a joint investment Fund .

The head of RDIF Kirill Dmitriev noted that in the framework of the joint Fund will be created “similar mechanisms of joint investments with the UAE and China”.

According to Dmitriev, the first transaction in the framework of the joint Russian-Turkish investment Fund will be held in the first quarter of 2017 in the field of agriculture. The Fund also will be engaged in crediting of joint projects in the priority sectors.