OREANDA-NEWS. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the Russian Direct Investment Fund (RDIF) and France’s State-Run Financial Group Caisse des Depots et Consignations (CDC) entered into a Memorandum of Understanding.

From the Russian side the Memorandum was signed by Vnesheconombank Deputy Chairman – Board Member Alexandr Ivanov and Director General of the Russian Direct Investment Fund Kirill Dmitriev, from the French side – by Director of European and International Affairs – CDC Board Member Laurent Vigier.

The Memorandum provides for enhancing interaction in direct investments and promoting economic cooperation. The parties agreed to ease access to long-term capital of Russian and French companies, participating in trade-economic relations between Russia and France. To this end, a working group is to be set up which will be responsible for exploring potential of Russian –French investment partnership as well as for developing specific models of its implementation.

According to Vnesheconombank Deputy Chairman – Board Member Alexandr Ivanov the Memorandum signed will give new impetus to relations between Vnesheconombank and CDC. It will help to raise long-term investments for Russia’s economy in order to implement major infrastructure development projects.

Commenting on the Memorandum signed Kirill Dmitriev said, “We cooperate with the largest international companies and funds. Mr. Laurent Vigier participates in our Fund’s Supervisory Board and we know that cooperation with our French partners opens up considerable opportunities. Joint investments in the format of public private partnership are an efficient instrument for achieving sustainable economic growth”.