Russia, Turkey to form joint investment fund
Russian Economy Minister Alexei Ulyukaev said on September 4 President Vladimir Putin and his Turkish counterpart Tayyip Erdogan had agreed to form a joint investment fund between their two countries.
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The two leaders met on the sidelines of the G20 summit in the eastern Chinese city of Hangzhou on September 3.
"We are concluding work on the formation of a Russian-Turkish investment fund," Ulyukaev said. "At the end of August, Turkey made the necessary legislative changes to create a corresponding partner to our direct investment fund - the Turkish sovereign wealth fund."
"I think by some time in October or November we will have a list of projects and allocate a credit line to begin work."
Putin and Erdogan have been working to restore ties between the two former regional allies following the downing of a Russian plane on the Syrian border by Turkish forces last year.
Turkey announced plans for a sovereign wealth fund last month, intended to boost annual growth over the next decade and reassure investors unnerved by a failed coup attempt in July.
