The Russian Direct Investment Fund (RDIF) and Mongolia's DBM Asset Management investment companywill create a Russian-Mongolian investment cooperation fund, the RDIF said on Tuesday.
A relevant agreement was signed on Tuesday during Russian President Vladimir Putin's official visit to the Mongolian capital of Ulaanbaatar.
The fund will focus on implementing projects in Russiaand Mongoloa aimed at developing the economies of the countries and improving the business climate.
"The RDIF is happy to announce its partnership with DBM Asset Management. I am sure we will manage to get on track cooperation for implementing joint investment projects, enabling Russiancompanies to enter the Mongolian market and the market of the whole middle Asian region, and strengthening trade and economical relations between our countries," RDIF CEO Kirill Dmitriev said, as quoted in a statement by the RDIF.