The Russian government has revived the national IT-Fund
March 17 The Russian government has issued decree number 147, which should revive the «investment fund information and communication technologies (Rosinfocominvest). Under the changes, duration of the fund will be extended until January 1, 2018
The RF Government rejected the idea of attracting private investors in «Rosinfocominvest» and appointed the sole shareholder of the fund to Ministry of Communications. Ministry promises to prepare a new version of the statute «Rosinfocominvest» within a month.
Earlier it was planned that in 2008, to participate in the fund will be invited to private investors, and as a result of the state’s share in the Rosinfocominvest «will be reduced to 50% plus one share, in 2009 — up to 25% plus one share, and in 2010 the State will withdraw from the shareholders. Now the concept has changed.
Ministry of Communications offered to give up the idea to attract private investors in the fund, but instead to attract co-investors directly in projects. Adopted decree should solve this problem.
Another change in work if Fund is to increase the maximum amount of funding per project — from 100 million rubles. to 150 million rubles. As well as amount invested by the fund in the project should not exceed 50% of the total amount of its funding.