The Cairo-based African Export-Import Bank (Afreximbank) is discussing 14 projects in various areas with the Russian Export Center, the bank's executive vice president, George Elombi, told Sputnik.
MOSCOW (Pakistan Point News / Sputnik - 01st October, 2018) The Cairo-based African Export-Import Bank (Afreximbank) is discussing 14 projects in various areas with the Russian Export Center, the bank's executive vice president, George Elombi, told Sputnik.
"We work very closely with the Russian Export Center. With them, we are pushing many projects across the continent. We are taking them along as they take us along in Russia. We have numerous projects already in the pipeline. We are working across a variety of sectors. We have a pipeline of 12 to 14 projects at different stages of progress," Elombi said.
The projects involved a number of large Russian corporations, he noted.
"There may be one or two much closer to closure than the others but what is of more interest to us is the fact that we have large Russian corporates, which are actively involved in projects in the continent," Elombi added.
Afreximbank was established in 1993 as a joint venture of African governments, African and non-African private investors and financial institutions in order to develop trade on the continent and outside it. The Russian Export Center has been one of the bank's stakeholders since December 2017.
