'There is a need to intensify cooperation by creating new fund | Roscongress Direct

"There is a need to intensify cooperation by creating new fundamental mechanisms to support Russian business in Africa. This may be achieved through so-called economic diplomacy and close cooperation between the Russian Foreign Ministry and Russian line ministries and organisations," – Mikhail Bogdanov, Russian Deputy Foreign Minister.

"We hope that the e-RUB will become an incentive for our banks to go into the African continent and do their best to participate in financing Russian-African start-ups, trade and, of course, in production localisation," – Igor Morozov, member of the Federation Council Committee on Economic Policy.

Delegates from 32 African countries actively participated in this year's SPIEF: Burundi, Cameroon, Central African Republic, Egypt, Gabon, Ghana, Guinea-Bissau, Libya, Malawi, Mozambique, Rwanda, Senegal, Somalia, Zambia and Zimbabwe.

During the Russia-Africa meetings, discussions, and roundtables, the experts agreed that economic diplomacy mechanisms should be used as much as possible, the work of intergovernmental commissions should be strengthened, and the number of reciprocal visits should be increased.

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