Russia, Moldova May Set Up $500Mln Development Fund In 2019 - Business Leader

CHISINAU (UrduPoint News / Sputnik - 21st September, 2018) A joint development fund worth $500 million could be set up by Russia and Moldova as early as next year if certain criteria are met, the co-chair of business Russia said Friday.

Andrei Nazarov, who co-chairs the organization of 3,000 Russian entrepreneurs as well as the Russian-Moldovan Economic Council, was speaking at a Russia-Moldova economic forum in Chisinau.

"If the political situation in Moldova stabilizes we can see the Moldovan-Russian development fund created as early as in 2019. It will have $500 million in seed money," he said.

Nazarov said the project had been discussed with Russian President Vladimir Putin who promised to look at it closer. However, the businessman noted that the Eastern European nation needed to lower political risks for Russian investors.