MOSCOW, October 27. /TASS/. Afreximbank has teamed up with the Russian Agency for Export Credit and Investment Insurance (EXIAR) to work out a special program of guarantees for Russian business operating on the African continent, Afreximbank President, Professor Benedict Oramah said in an interview with TASS.

"We did discuss it with EXIAR [the lack of financial mechanisms to support and guarantee Russian companies’ investments in Africa]. We have what is called AFGAP - Afreximbank Guarantees. We provide country risk guarantees, we provide investment guarantees and we provide other forms of guarantees that investors need: for example, completion risk guarantees, market availability guarantees," Oramah said.

Afreximbank provides such services to African companies as well, he said. As for Russian companies, Afreximbank is sharing all the risks 50%/50% with EXIAR. Afreximbank is also ready for cooperation with other Russian financial and credit institutions, he said.

"We are working already with some Russian banks - VTB, we continue to work with them. VEB - we are in discussions with them. Our lines of credit are open for a number of Russian banks," Oramah added.

The full text of the interview is available at: https://tass.com/economy/1354969