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11 Oct 2016

Russian-Belarusian venture investment fund at $20m

MINSK, 11 October (BelTA) - The Russian-Belarusian venture investment fund will be at least $20 million, Director of the Belarusian Innovation Fund Dmitry Kalinin said when speaking at the business ideas forum during the Belarusian Energy and Ecology Forum, BelTA has learned.

“We have drafted an agreement to set up a joint Belarusian-Russian venture investment fund. I would like it to be signed in the next month or so,” said Dmitry Kalinin.

The fund is based on a parity principle: 50% of the project will be supervised and funded by Belarus, the other 50% by Russia.

Belarus and Russia have already agreed on priority areas for cooperation: energy, instrument-making, biotechnology, security systems, microelectronics, and mechanical engineering.

When considering investing in a project, the fund will have a number of requirements. “The conceptual requirement is that projects must promote cooperation between economic entities of Belarus and Russia and suggest joint implementation. First of all, the emphasis is made on the Belarusian technologies. We are focused on the commercialization of our technologies,” Dmitry Kalinin said.

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