MOSCOW -(Dow Jones)- Foreign investment into Russia rose 25.2% to $8.4 billion in the first half of 2002 from a year earlier, Russian State Statistics Committee, Goskomstat, reported Monday.
These figures don't include bank lending or investments generated in Russia and reinvested.
Russian companies have accumulated $38.1 billion of foreign investments as of July 1.
Of the total inward investment, some 48.7% came in the form of direct investment, 47.5% in the form of trade financing and other loans from international financial institutions and only 3.8% as portfolio investment.
The biggest sources of investment were Germany, which spent $1.63 billion and the U.K. with $906 million. U.S. investment totaled $554 million.
Investment from Cyprus, the traditional home for Russian citizens' offshore accounts, totaled $1.12 billion in the first half. A further $645 million came from Luxembourg and $355 million from Switzerland, two other favored tax havens.
However, these were offset by the outflow of $2.1 billion in funds to Cyprus and another $702 million to the British Virgin Islands.
Agency Web Site: http://www.goskomstat.ru