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Russia, Kazakhstan to set up nanotechnology fund

Russia, Kazakhstan to set up nanotechnology fund

21 December 2011 12:52 (UTC +04:00)

Baku - APA-Economics. The final documents were signed in Astana earlier today to set up a Russian-Kazakh Nanotechnology Venture Fund.

The fund, established in keeping with the agreements between President Dmitry Medvedev and his Kazakh counterpart, Nursultan Nazarbayev, is due to encourage the two countriesâ€™ joint effort to promote innovation in both nations.

The fundâ€™s 100 million dollars will be invested in projects in Russia and Kazakhstan on a parity basis. Investments will be made in power production, including alternative sources of energy; in oil and gas production, telecommunications, biotechnology, electronics and environment-oriented technologies.

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