UPDATE: Executive: Afreximbank owners to meet in Russia in 2019

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MOSCOW, Oct 1 (PRIME) -- A general meeting of shareholders of the African Export–Import Bank (Afreximbank) will take place in Russia in 2019, Interim Vice President George Elombi told PRIME in an interview released on Monday.

The Russian Export Center became a shareholder of the bank in 2017.

Elombi said, “Now that Russia has every chance to restore its position in Africa, while the African states can diversify the source of investment, the event has a special meaning.”

He said that the African states are interested in the Russian experience in mineral resource development, railways and civil aviation. “All these sectors are interesting to us and in our opinion, offer many opportunities to Russian exporters. Imports from Russia are of a particular importance to us, as well as a search for markets for the African exporters to Russia.”

The bank is working on a program of Russian–African cooperation with the Russian Industry and Trade Ministry. A trade fair can be organized in Russia in 2019 to showcase Russian equipment to African companies, Elombi said.

According to Elombi, the Russian Export Center and Afreximbank are discussing about 14 projects of cooperation in various sectors.

Afreximbank is working with some Russian banks, including Sberbank, VTB, Vnesheconombank (VEB) and Promsvyazbank, on joint projects.

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