Afreximbank, Belarus Development Bank Sign MoU

The African Export-Import
Bank (Afreximbank) says it has signed a Memorandum of Understanding (MoU) with Development Bank of Belarus to finance trade between African countries and Belarus.
A statement by the bank released in Lagos over the weekend showed that Afreximbank President, Dr Benedict Oramah and Sergei Roumas, Chairman, Board of the Development Bank of Belarus, signed for their respective institutions.
The agreement signed in Minsk, the Belarusian capital, followed a pledge by Afreximbank to contribute 400 million dollars to fund the partnership.
According to the statement, the two banks will cooperate in financing private sector operations in Africa and in financing trade between Belarus and African countries.
“They will also undertake joint promotional efforts for private sector development finance and trade finance between Belarus and African countries as well as cooperate in project evaluation and development.
“Other areas covered by the MoU include exchange of knowledge, information and experience through trade referrals.
“It includes the identification of projects and activities involving acquisition of Belarusian goods which could be financed,” the statement said.
Afreximbank currently has 41 nuclear research  for  peaceful purposes, space science and technology.”
He called  on Nigerians to cooperate with the government  and embrace the application of technology on local production to  ameliorate poverty, saying  “such efforts  would  help create  jobs and  resuscitate  economy.”