During the Russia-Africa Summit and Russia-Africa Economic and Humanitarian Forum in St. Petersburg, Russian President Vladimir Putin announced that his country would offer preferential loans to enable African companies to purchase industrial goods from Russia and benefit from after-sales services.

To facilitate this, Russia is devising a leasing mechanism specifically tailored for Africa, and the Russian Agency for Export Credit and Investment Insurance will provide insurance for the planned preferential loans.

The Russian government plans to establish a dedicated investment fund to co-finance infrastructure projects on the African continent.

Putin emphasized the importance of expanding trade and economic ties with African countries, suggesting the use of national currencies, including the ruble, in commercial transactions to enhance cooperation.

Russia aims to promote deeper collaboration with African nations in the fields of information security, Artificial Intelligence, and the digital economy.

The country also envisions reorienting its transport and logistics flows to the Global South, including Africa, by building the North-South transport corridor to provide access to the Persian Gulf and the Indian Ocean, thus facilitating trade between Russia and Africa.