Russia’s Ministry of Finance reported the signing of a memorandum of understanding between VEB.RF, Russia’s largest development institution, and the Confederation Bank for Investment and Development of the Sahel States (BCID-AES). Signed at the Russia-Africa Economic and Humanitarian Forum, the memorandum aims to expand trade and investment cooperation between Russia and the Confederation of Sahel States, comprising Niger, Mali and Burkina Faso. VEB.RF has become the bank’s first international partner. The institutions intend to identify and assess projects supporting the development and integration of the confederation’s member states. They could also consider using financial instruments offered by the VEB.RF Group to support Russian exports to the three countries.
Russia’s Ministry of Finance reports VEB.RF partnership to expand trade and investment with Sahel states
Russia’s Ministry of Finance reported a cooperation memorandum between VEB.RF and the Confederation Bank for Investment and Development of the Sahel States, making VEB.RF the bank’s first international partner. The institutions intend to identify development and integration projects in Niger, Mali and Burkina Faso and could consider VEB.RF Group financial instruments to support Russian exports.