As per the public relations statement from the National Development Fund, the National Development Fund of Iran and the Russian Direct Investment Fund held their second virtual meeting. The Deputy Director of Foreign Investment from the National Development Fund, Hossein Eivazloo, discussed and shared ideas with their counterpart from the Russian Direct Investment Fund regarding the establishment of a mutual fund.

Eivazloo has announced that the National Development Fund has shifted from a passive approach to an active approach in domestic and foreign investments over the past two years. He further revealed the establishment of specialized departments that will assess investment plans and manage different types of risks in the Fund.

He stated that out of the four investment structure proposals presented by the RDIF fund for the establishment of the joint investment fund between Iran and Russia, the National Development Fund Executive Board has approved the project and joint investment financial structure model. During the meeting, the discussion was centered around the allocation of shares between the two funds and the potential activities of the joint investment fund in Russia, Iran, and other countries, with the exchange of views taking place.

Eivazloo highlighted that the National Development Fund finances projects through Iranian banks and is also involved in large power plant and refinery projects directly or through consortium methods on a restricted scale. He mentioned that while minimizing potential risks, the Fund also takes part in project risks for higher returns, and acceptance of project risk is directly related to this.

He also cited an instance of recent foreign investment plans that gained approval from the Executive Board of the Fund, and in this session, the approval procedures for these projects were discussed.

The RDIF's deputy official representing the Russian side expressed their appreciation for the foreign investment of the Fund and welcomed its newfound approach towards accepting project risks.

Eivazloo noted that the National Development Fund expressed its interest in maintaining a 50-50 share between the two funds based on the experience of joint investment funds with the RDIF. He mentioned the establishment of the China-Russia, Turkey-Russia, and Russia-UAE joint funds. Eivazloo further added that, given the strategic cooperation between Iran and Russia, the National Development Fund can also participate in Russian investments in Iran.

Additionally, the deputy official of the RDIF, representing the Russian Direct Investment Fund, mentioned the mutual interest of the parties in executing strategic projects and Russia's desire to invest in Iran. He stated that Iranian companies with innovative products can engage in discussions regarding investment opportunities in Russia. However, both parties must agree on the commercial contract law beforehand.

He expressed a willingness to establish a joint fund with Iran and establish fundamental frameworks. He also emphasized that both parties must acknowledge and accept the investment risks involved.

The meeting concluded with the decision to draft and propose a preliminary agreement framework for establishing the Iran-Russia Joint Fund by the Russian side.