India, Russia sign MoU for hydro-generation

Monday, July 6th, 2020

Russia’s Direct Investment Fund In a significant step in economic cooperation, Russia’s Direct Investment Fund (RDIF) signed an MoU with India’s Infrastructure Development Finance Company (IDFC) for funding of hydro-generation projects. RDIF Director General Kirill Dmitriev told the BRICS Business Council meeting that his company signed an MoU with its partners in the BRICS member-states to work with sovereign funds, with the BRICS Bank and invest in the equity of infrastructure projects in these countries. “We have signed an MoU with five funds from our five countries: the Russian Direct Investment Fund, the Silk Road Fund from China, the IDFC (Infrastructure Development Finance Company) from India, the Development Bank of South Africa and the Brazil BTG Pactual fund,” he said. Source: The Hindustan Times

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