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New Concessional Financing Mechanism Discussed at VEB.RF for Investment Projects in Africa

23 april 2025 года
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The VEB.RF office has hosted a meeting of the expert council on foreign trade development of the Industry and Trade Committee of the State Duma.

Daniil Algulyan, Deputy Chairman, VEB.RF, and a member of the Bureau, Russian Engineering Union: “Although relations with Africa have a long history, beginning in Soviet times, it can be stated that we are now at the start of a completely new, interesting stage in our cooperation. Both in terms of supplying a variety of products and in terms of investments. Recently, a number of very important events have taken place on the Russian-African agenda. And it is currently obvious that we should move forward to a new stage of relations with African partners. It is also necessary to establish an institutional basis for this cooperation. I believe that the Russian Engineering Union, the Defense Enterprises Assistance League, and the expert council of the State Duma committee can provide a very important expert platform for discussing this cooperation.”

A new concessional financing mechanism developed by VEB.RF and the Russian Ministry of Economic Development for investment projects in African countries was presented at the meeting. This is soft lending used to finance Russian exporters’ capex and opex associated with their projects in Africa. VEB.RF’s approved commitment in one project is limited to 100 million US dollars.

VEB.RF has a whole range of Russian investment projects in the pipeline for African countries.
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