The Fund "Regional Economic Development Agency" (REDA) – briefly, "Regional development agency" (RDA) – was established in December 1999, according to the initiative of the Ministry of economic development and trade of the Russian Federation and of the Administration of the Kaliningrad region.

Originally, the founders of the Agency were the Russian National Research Institute of Foreign Trade of the Ministry of economic development and trade of the Russian Federation and the Committee for development of the Special economic zone of the Administration of the Kaliningrad region.".