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News

13.09.2021
09:01

REC Group and Afreximbank will continue to build the infrastructure to support the supply of Russian products to Africa during the next 5 years

“Russian companies can obtain the necessary financing and hedge against risks on the African continent. This is possible, inter alia, thanks to the partnership between the REC Group and the African Export-Import Bank (Afreximbank),” Nikita Gusakov, General Director of EXIAR JSC and Senior Vice President of REC, said at the strategic session of Afreximbank held in Dubai (UAE).

“The development of cooperation between Russia and Africa has been and remains one of the strategic priorities of the REC Group. In cooperation with Afreximbank, we develop and offer various models for joint financing of projects with the participation of Russian companies in Africa, as well as the possibility of insuring the risks of Russian banks when concluding credit transactions with Afreximbank,” Nikita Gusakov.

The main topic of the session was to discuss the economic prospects of African countries for the next five years, as well as the role of Afreximbank in strengthening and developing trade and economic relations of the continent with partners abroad. The session lasted for three days and involved the management, members of the Board of Directors of Afreximbank, and special guests from among the main bank’s partners. During the session, the participants shared views and experiences on the main aspects of interaction, as well as discussed the necessary measures to improve the infrastructure in order to increase the volume of trade with African partners.

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African Export-Import Bank (Afreximbank) is a supranational financial institution that unites almost all African countries as shareholders. The bank’s main objective is to develop and stimulate trade between African countries and beyond the continent. Afreximbank was founded in 1993 in Abuja (Nigeria). Its authorized capital is $ 5 billion. It has a headquarter in Cairo, and also the regional offices in Cote d'Ivoire, Nigeria, Uganda, and Zimbabwe.