ST. PETERSBURG, July 27. /TASS/. African Export-Import Bank President Benedict Oramah and its board members have arrived in St. Petersburg to attend the Russia-Africa summit, according to a TASS reporter.

The Russian Foreign Ministry said earlier that Russia was determined to continue developing cooperation with Afreximbank. The bank's president said that the summit would help establish contacts with Russian businesses. Oramah also said trade between Russia and African countries was rapidly developing and Russia was a major supplier of grain and fertilizers to the continent.

Afreximbank was founded in Abuja, Nigeria, in 1993, with the authorized share capital of $5 billion. The lender’s mission is to promote international trade of African countries. Its headquarters are in Cairo, and there are regional offices in Cote d'Ivoire, Nigeria, Kenya and Zimbabwe.

The second Russia-Africa summit is scheduled to take place at St. Petersburg’s Expoforum convention center from July 27-28. An economic and humanitarian forum is scheduled to run in parallel to the event. Like the previous summit, the upcoming one will be held under the motto For Peace, Security and Development. The Roscongress Foundation is the summit’s organizer while TASS is the summit’s photo hosting agency and media partner.