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Abu Dhabi SWF To Invest In Russia Banks

Sovereign wealth fund Abu Dhabi Investment Authority may allocate $100 million for Russian regional banks.

Sovereign wealth fund Abu Dhabi Investment Authority may allocate $100 million for Russian regional banks, Bloomberg reports, citing Kommersant. The investment will be made through a fund established by the International Finance Corporation (IFC) and Russian state-run development bank VEB. The fund may invest up to $1 billion.

Korea Investment Corporation and Korea's National Pension Fund are also showing keen interest in the fund, adds The Moscow Times. VEB and IFC may contribute $250 million each, while the finance ministry intends to further invest $50 million.

Click here for the story from Bloomberg.

Click here for additional coverage from The Moscow Times.

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