MILAN: Russia’s RDIF sovereign fund will sign a deal with Italy’s state lender Cassa Depositi e Prestiti (CDP) to jointly invest 300 million euros ($338 million) in Italian firms looking to expand their businesses in Russia, the fund’s head said.
“CDP has a large portfolio of companies and we’ll be working closely with them to promote investments in Russia,” Kirill Dmitriev (pictured) said in an interview.
The agreement will be signed by the Russian Direct Investment Fund (RDIF) and CDP later on Thursday on occasion of the state visit of Russian President Vladimir Putin to Rome.
Foreign investment from Italy has significantly dropped off since the imposition of sanctions on Russia following Moscow’s 2014 annexation of Crimea and tensions in Ukraine.
But last year Putin and Italian Prime Minister Giuseppe Conte pledged to boost economic ties between the two countries. — Reuters
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