AES bank and VEB.RF discuss priority funding
By the AFREEQUE newsroom, based on Sidwaya
The Investment and Development Bank of the Confederation of Sahel States and Russian corporation VEB.RF discussed cooperation priorities in Moscow. VEB.RF said its African portfolio exceeds $2 billion and that it wants to expand it, according to Sidwaya.
The AES Confederation Bank for Investment and Development (BIDC) and VEB.RF, a Russian state development corporation, discussed priority areas for financial cooperation in Moscow on Tuesday 27 October. The meeting was held on the sidelines of the third Russia-Africa summit, according to the Burkinabè newspaper Sidwaya.
VEB.RF currently has a portfolio of projects in Africa worth more than $2 billion and plans to increase it, its vice-president Daniil Algulian said. BIDC president Serge Auguste Bayala called for the partnership with the Sahel states to be redirected so that development financing directly improves people’s well-being, while Burkinabè Foreign Affairs Minister Karamoko Jean Marie Traoré presented the confederal bank as an instrument for financing sovereignty.
The meeting took place two days after Malian President Assimi Goïta arrived in Moscow for the Russia-Africa summit, as planned in the announcement of his trip to Moscow.
