Yes. Generally, direct investments come with more risks than investing via local partners. This is because local partners spread their risks: they have many customers, different regions, are active in various sectors, and their projects have different maturities. A single company has a more concentrated risk: it is often engaged in only one industry and offers limited products. As the risk of direct investments is generally higher than an investment through a local partner, the interest is also higher: on average 5-8% annually.