Russian President, Putin unveils special loans for Nigerian companies

Russian President, Vladimir Putin, has declared that his country will offer preferential loans to enable African companies buy industrial goods from the country and enjoy after-sales services.

The world leader said his government was devising a leasing mechanism tailored for Africa, and that the Russian Agency for Export Credit and Investment Insurance would provide cover for the planned preferential loans.

Putin made the disclosure during the ongoing Russia-Africa Summit and Russia-Africa Economic and Humanitarian Forum held in St. Petersburg, Russia.

The Russian president also said that his government is about to establish a dedicated investment fund for co-financing infrastructure projects in the African continent.

Nigeria’s President, Bola Ahmed Tinubu, was represented at the meeting by his vice, Kashim Shettima.