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USRF History

The U.S. Russia Foundation for Economic Advancement and the Rule of Law (USRF) is the legacy foundation of The US Russia Investment Fund (TUSRIF), funded by the U.S. Government in 1995 to promote the development of the private sector in Russia through direct investment and technical assistance to private Russian enterprises. Through highly effective management, TUSRIF made a major contribution to a growing Russian economy and earned sufficient capital to create an endowment.

At the G-8 Summit on July 15, 2006, Presidents Bush and Putin announced their intention to establish USRF with the twin goal of promoting long-term economic development in Russia and strengthening ties between the United States and Russia.

Origins of USRF legacy

In 2008, USRF was registered as a not-for-profit corporation in the United States and in early 2009 USRF was established in Russia as an affiliate of the US organization.

  • 1993/94: Russian American Enterprise Fund (RAEF) & Fund for Large Enterprises (FLEER) established in Russia
  • $330 million of U.S. taxpayer money committed to the effort
  • 1995 - RAEF & FLEER were merged into TUSRIF
  • From investments, sales, and reinvestments over the 17 years – TUSRIF has put more than $1 billion into Russia's economy
  • In 2004-2005 TUSRIF began sell off investments
  • 2005: TUSRIF recommendation to U.S. White House & Congress: Create USRF
  • 2008: U.S. White House and Congress adopted TUSRIF recommendations – President Putin agreed
  • 2008: USRF Established – Continues U.S. Russia partnership efforts in Enterprise & Rule of Law
  • 2009 – the Moscow office was opened

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