VEB wants new model of cooperation with RDIF, joint projects
MOSCOW. April 5 (Interfax) - Vnesheconombank (VEB) (MOEX:VEBM) which formally owns the Russian Direct Investment Fund (RDIF) but does not actively take part in its management, wants to change its model of cooperation with RDIF.
"What is important for us it not so much that we own the RDIF but that we work with them. Opportunities for synergy are there, but unfortunately VEB owned RDIF but didn't look at what kind of synergy there was. For me it is important how we work with them. Right now we are preparing a totally new system of cooperation with RDIF in a number of projects," the head of VEB, Sergei Gorkov, told journalists. Before this, there were no joint projects between VEB and RDIF. One was under consideration but never materialized, he said.
"RDIF is a good fund, it raises money, does projects, but VEB hasn't been involved with that. We have created a special working group so that we can take a look at this through synergy. I see a lot of potential for joint projects," the head of VEB said.
As reported earlier, at the end of March deputies in the State Duma introduced a bill for the reorganization of LLC RDIF Management Company into a non-public joint stock company, solely owned by the Russian state and not VEB. The Economic Development Ministry expressed support for the bill.
