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Ministry of economic development of the Russian Federation

Russian business to get support for projects in Africa

19.02.2021

The Association of Economic Cooperation with African States (AECAS) will deal with issues of supporting the Russian business in Africa and searching for financial mechanisms, Executive Director of AECAS Anna Belyaeva told TASS on Friday.

"Development of financial mechanisms for advancement of the Russian business in Africa must be one of priorities of organization’s work. This is needed for the Russian business to be able to move forward in such challenging region. There must be a special focus. Africa strongly differs from other regions in terms of the business vision and the focus of government efforts must be provided at the least," she said.

Particular attention will be paid to financing of Russian projects in this region and to the political and diplomatic support, Belyaeva said.

"Political and financial risks are high in different states. Collective work is important there to look for proper patterns of building relations with either Russian or foreign financial institutions, to provide the opportunity for high quality funding of projects," she added.

AECAS will also focus on searching for business partners on the continent for domestic companies and on developing legislative initiatives.

Source: TASS



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