Turkish-Russian joint fund modeled on China and UAE

Published 11.08.2016 22:11

The model that Russia used in China and the United Arab Emirates will be used for a Turkish-Russian joint investment fund which will be worth several billion dollars. Joint investments will be made in infrastructure, agricultural and medical projects. Along with the 50-50 shared fund, the two countries will be able invest in other countries as well.

Russia is getting ready to make nuclear power and space vehicles investments costing about $1 billion in Egypt with its joint fund with the UAE. The size of Russia's joint fund with China has currently reached $2 billion. With this equally shared fund, both countries have made various investments so far.

Speaking to Sabah, Foreign Economic Relations Board (DEİK)'s Turkish-Russian Business Council President Tuncay Özilhan said the Turkish-Russian joint investment fund would be used to revive mega projects, and operations were in progress to take relations back to the pre-November 2015 period.

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