Agreement on Belarusian-Russian venture fund in September

MINSK (BelTA) – Plans have been made to sign an agreement on setting up a Belarusian-Russian venture fund with the intended volume of funding close to $20 million in September 2015, the press service of the State Science and Technology Committee of Belarus told BelTA.

The relevant agreement was reached when the Committee's Chairman Alexander Shumilin met with Russian Federation Deputy Economic Development Minister Oleg Fomichev in Moscow.

According to the source, the sides also agreed that as part of the establishment of the venture capital financing system in Belarus Russian Venture Company will assist with the implementation of joint projects, with the training of specialists for working in venture organizations and with forming special venture financing instruments, including using the state budget.