Zee Beam News

20.04.2006 10:41 [Neftegaz.ru] - The Russian government plans to put up $500 million into a venture capital fund that will invest in innovative projects, the country's Economy Minister German Gref said yesterday. "We will allocate up to half a billion dollars for this purpose next year," Gref said, quoted by RIA Novosti. Gref said the fund would encourage venture investment, and added that a strategy was being drafted to foster the development of venture infrastructure in 2006-2008. Ten percent of all transnational corporations would enter the Russian market in the next three or four years, Gref said.