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Abu Dhabi has outlined plans to invest as much as US$5bn in Russian infrastructure projects over the next seven years
The commitment from Abu Dhabi’s department of finance, which is expected to be formalised by the end of the year, was to be announced recently by the Russian Direct Investment Fund (RDIF).
The move has come three months after Mubadala, another Abu Dhabi fund, pledged to invest US$1bn in Russian businesses alongside the RDIF.
The RDIF was set up two years ago to bolster private equity investments in Russia by offering foreign investors the opportunity to participate in companies or infrastructure projects.
RDIF CEO Kirill Dmitriev has embarked on a mission to win commitments from big pockets of money in Asia and the Middle East.