Tuesday, 17 March 2020 05:45

Russian business looking for ways of participation in national projects

Reserves of more than 7% of GDP may not be enough for planned public investments in the country. Financing of investment projects from the NWF in 2020 is question, the First Deputy Prime Minister Andrey Belousov admitted.

In the current circumstances, the first Deputy Prime Minister believes that it is more appropriate to direct state funds to co-financing of the "Fund of funds" which is being created.

“We actively support the idea of creating such a public-private fund of funds”, Belousov said at the meeting of the administrative board of the RSPP on March 13. “I suggest creating a working group to launch the fund of funds. This is a good idea and it definitely should be supported”, Belousov says.

He reminded that this topic was raised at a recent meeting of President Vladimir Putin with Russian investors. At that meeting Alexander Galitsky, the founder of Almaz Capital Partners, proposed to create in Russia "so-called funds of funds, when state corporations, and strategists, and perhaps pension funds and insurance companies, as it is done in the whole world and in other countries, will become the creators of these funds, and these funds of funds will invest in specialized venture funds”. Putin saw a significant, albeit technical, problem on the way to implement the idea proposed by Galitsky.

“It will be very difficult to convince colleagues, managers of these funds, to join a single Fund”, the President said.

During the meeting of the RSPP Board of Directors with the first Deputy Prime Minister, PhosAgro CEO Andrey Guryev said that business considers it interesting to create a fund of funds, not only venture funds, "but also large infrastructure funds, where the state could act with a large shoulder, but at the same time attract companies at a good rate, giving some guarantees».

TMK's main owner Dmitry Pumpyansky emphasized:

 "We, as a business, will welcome any decision that simplifies access to participation in national projects”.


Read 3215 times Last modified on Tuesday, 17 March 2020 07:35