World
Russia Contributes 35% of Global Arms Export to Africa—Envoy
By Kestér Kenn Klomegâh
Russia has been accused of not doing enough for the growth of Africa, especially since the collapse of the Soviet Union.
It was observed that Russia-African diplomacy had been marked by several bilateral agreements that are yet to be implemented.
According to official documents, 92 agreements worth a total of $12.5 billion were signed during the symbolic African leaders’ gathering in late October 2019, and Russia has done little to implement them since then.
The joint declaration is a comprehensive document that outlines the key objectives and tasks required to elevate the entire relationship to a new qualitative level.
Long before the summit, there were mountains of promises and pledges that were never fulfilled. Several meetings of various bilateral intergovernmental commissions have taken place in both Moscow and Africa.
According to the Russian Ministry of Foreign Affairs, over 170 Russian companies and organizations submitted 280 proposals relating to various projects and businesses in Africa.
As Russia prepares for the next summit, which will be held in St. Petersburg in July 2023, African leaders have indicated their willingness to actively participate, at the very least, to listen to rousing speeches, sign more new agreements, and finally pose for group photos.
However, many experts and top African diplomats question the substance of discussing additional opportunities and effective efforts to build and strengthen Russia-African relations.
The revival of Russia-Africa relations must address existing challenges while also taking a results-oriented approach to pressing African issues. Taking into account the views and opinions expressed by African politicians, businesspeople, experts, and diplomats about the situation in Africa is one of them.
In practice, while Russia reaffirms its desire to return to Africa, it has yet to demonstrate a visible long-term commitment to collaborating with appropriate institutions to advance sustainable development across the continent.
Professor Abdullahi Shehu, Ambassador Extraordinary and Plenipotentiary of the Federal Republic of Nigeria to the Russian Federation with concurrent accreditation to the Republic of Belarus, delivered a lecture on “Africa-Russia Relations: Past, Present, and Future” to young diplomats and students of the Diplomatic Academy of the Russian Federation in mid-October.
Ambassador Shehu talked a lot about African history. He focused on the effects of the times before, during, and after contact with European powers and the neo-colonization of African states that happened after that.
He also discussed Africa’s relations with the Soviet Union, which began in large part after the independence of several African states in the 1960s. He emphasized the contributions to Africa’s decolonization struggle, as well as the numerous areas of cooperation that have existed between Africa and Russia over the years.
Professor Shehu emphasized the existence of several bilateral agreements with African countries, saying between 2015 and 2019, Russia and African countries signed a total of 20 bilateral military cooperation agreements. Many Russian companies, including Lukoil, Gasprom, Rosatom, and Restec, are in Nigeria, Egypt, Angola, Algeria, and Ethiopia’s energy and power industries.
But on the other hand, Russia has performed dismally in Africa’s energy sector and many other important economic spheres over the years.
“Unfortunately, due to Rosneft’s lack of interest in doing business in Africa, these agreements have not materialized. Furthermore, Russia’s Rosatom has also signed nuclear energy agreements with 18 African countries, including Nigeria, Egypt, Ethiopia, and Rwanda, to meet those countries’ power needs but has not been successful in building nuclear plants in Africa.
“Despite the tidal wave of new Africa-Russian relations, there are still obstacles, as well as new economic conditions and geopolitical realities. Acceptance of these new realities is critical in order to properly manage Africa’s expectations from Russia, at least in the short term,” the envoy said.
On the indiscriminate export of arms and military equipment, Ambassador Shehu stated, “However, Russia’s increasing export of arms to the African continent may exacerbate insecurity and instability, as well as increase the level of crime and criminal proclivity. So, it is in Russia’s strategic interest to be very picky about which African countries it sells weapons to. The deployment of private Russian mercenary groups and other private military groups in African countries is of particular concern and strategic importance to Africa.”
Support for Africa’s democratic institutions and agencies will lead to a more stable Africa, which is in Russia’s overall long-term interest and positive image rather than immediate short-term economic and financial gain, he said in his lecture, adding that Russia contributes approximately 35% of global arms export to the African region.
Given the difficulties that most African countries face in providing adequate power and energy, the number of Memorandums of Understanding (MOU) signed by Rosatom, Russia’s nuclear power company, with at least 14 African countries, is encouraging. What will be more significant, however, is the extent to which the MOUs are implemented because, by definition, the construction and operation of nuclear plants are ventures with the potential for deepening long-term relationships, according to Nigeria’s top diplomat.
Brigadier General Nicholas Mike Sango, Zimbabwe’s ambassador to the Russian Federation, told me in an interview just before his final departure from Moscow that several issues could strengthen the relationship. Economic cooperation is an important direction. African diplomats have consistently persuaded Russian companies to use the Africa Continental Free Trade Agreement (AfCFTA) as an opportunity for Russian companies to establish footprints on the continent. This viewpoint has not found favour with them, and it is hoped that it will work in the future.
Despite the government’s lack of pronounced incentives for businesses to set their sights on Africa, Russian businesses generally regard Africa as too risky for investment. He stated that Russia must establish a presence on the continent by exporting its competitive advantages in engineering and technological advancement in order to bridge the gap that is impeding Africa’s industrialization and development.
“Worse, there are too many initiatives by too many quasi-state institutions promoting economic cooperation with Africa, saying the same things in different ways but doing nothing tangible,” he explained during the lengthy pre-departure interview. From July 2015 to August 2022, he represented the Republic of Zimbabwe in the Russian Federation. He previously served as a military adviser in Zimbabwe’s Permanent Mission to the UN and as an international instructor in the Southern African Development Community (SADC).
Many former ambassadors have made several similar criticisms. According to former South African Ambassador Mandisi Mpahlwa, Sub-Saharan Africa has understandably been low on post-Soviet Russia’s priority list, given that Russia is not as reliant on Africa’s natural resources as other major economies. The reason for this was that Soviet-African relations, based on the fight to push back the borders of colonialism, did not always translate into trade, investment, and economic ties that would have continued seamlessly with post-Soviet Russia.
“Russia’s goal of elevating its bilateral relationship with Africa cannot be realized without close collaboration with the private sector. Africa and Russia are politically close but geographically separated, and people-to-people ties remain underdeveloped. This translates into a lack of understanding on both sides of what the other has to offer. In both countries, there may be a fear of the unknown, “Mpahlawa stated in an interview after completing his ambassadorial duties in Russia.
Professor Gerrit Olivier from the Department of Political Science, the University of Pretoria in South Africa, noted that there had been unprecedented frequent official working visits to and from, but with little visible impact. Russian by its global status, ought to be active in Africa as Western Europe, the European Union, the United States and China are, it is all but playing a negligible role, and at present, its diplomacy is dominated by a plethora of agreements signed – many of which the outcomes remain hardly discernible in African countries.
Several agreements signed are impressive, but it remains how these will be implemented in practice. That, however, obstacles to the broadening of Russian-Africa relations should be addressed. Be that as it may, the Kremlin has revived its interest in the African continent, and it will be realistic to expect that the spade work it is putting in now will at some stage show more tangible results, he said with optimism.
“Russian influence in Africa, despite efforts towards resuscitation, remains marginal. While prioritizing Africa, Russia has to do more with a result-oriented investment like other players in the continent. The official working visits are mainly moves and symbolic, and have little long-term concrete results,” Professor Olivier, who served as South African Ambassador to the Russian Federation from 1991 to 1996, wrote in an email comment from Pretoria, South Africa.
Russia’s African policy is riddled with flaws. According to reports, more than 90 agreements were signed at the conclusion of the first Russia-Africa summit. Thousands of bilateral agreements are still in the works, and century-old promises and pledges to support sustainable development with African countries are authoritatively renewed. Russia is flashing its geopolitical headlights in all directions on Africa, like a polar deer waking up from its deep slumber.
According to Russia’s Ministry of Foreign Affairs website, several top-level bilateral meetings, memorandums of understanding, and bilateral agreements have occurred in recent years. In November 2021, a policy document titled the ‘Situation Analytical Report’ presented at the TASS News Agency’s headquarters was harshly critical of Russia’s current African policy.
That policy document was prepared by 25 Russian experts headed by Professor Sergey Karaganov, Honorary Chairman of the Council on Defense and Foreign Policy. While the number of high-level meetings has increased, the proportion of substantive issues and concrete outcomes on the agenda has remained small. It explicitly highlights the inconsistency of approaches in dealing with many critical development issues in Africa. Russia, on the other hand, lacks public outreach policies for Africa. Aside from the lack of a public strategy for the continent, there is a lack of coordination among the various state and non-state institutions that work with Africa.
Associate Professor Ksenia Tabarintseva-Romanova of Ural Federal University’s Department of International Relations recognizes significant existing challenges and possibly difficult conditions in Africa-Russia economic cooperation. The establishment of an African Continental Free Trade Area (AfCFTA) is the most important modern tool for the economic development of Africa. This is unique in terms of exploring and becoming acquainted with the opportunities for business collaboration it provides.
She maintains, however, that successful implementation necessitates a sufficiently high level of economic development in the participating countries, logistical accessibility, and developed industry with the potential to introduce new technologies. This means that in order for the African Continental Free Trade Area to be effective, it must enlist the provision of long-term investment flows from outside. These funds should be used to build industrial plants and transportation corridors.
Tabarintseva-Romanova previously stated in an interview discussion that Russia already has extensive experience with the African continent, making it possible to make investments as efficiently as possible for both the Russian Federation and African countries. Potential African investors and exporters may also look into business collaboration and partnerships in Russia.
However, Russia must find effective exit strategies, abandon loud diplomatic rhetoric, and take the first steps toward strengthening economic engagement with Africa. It must go beyond the traditional rhetoric of Soviet assistance to Africa. Professor Abdullahi Shehu’s mid-October lecture at the Russian Diplomacy Academy suggested that Russia consider the following.
Professor Shehu proposed that Russia invest directly in Africa’s extractive and manufacturing sectors as a viable alternative and long-term option. As evidenced by the sanctions imposed on Russia by the United States and Europe, Africa holds a promising future for the viability and profitability of Russian manufacturing companies interested in relocating to Africa to take advantage of cheap African labour.
The establishment of the African Continental Free Trade Area (AfCFTA), the world’s largest of its kind, provides Africa with a once-in-a-lifetime opportunity for intra-African trade, thereby empowering Africa’s own capacities and investments. Russia must broaden its view of the investment opportunities presented by this single continental market of 55 African countries with a combined population of over 1.3 billion people.
Professor Abdullahi Shehu also cited Joseph Siegle, the Director of Research for the African Centre for Strategic Studies, to back up his point that “Developing more mutually beneficial Africa relations necessitates changes in both substance and process. Such a shift would necessitate Russia establishing more traditional bilateral engagements with African institutions rather than individuals. These initiatives would prioritize trade, investment, technology transfer, and educational exchanges. Many Africans would welcome such Russian initiatives if they were transparently negotiated and implemented equitably.”
Despite setbacks in recent years, the search for effective project and business financing is still ongoing, according to official reports. “There is a lot of demanding work ahead,” Foreign Minister Sergey Lavrov said during a meeting of the Ministry’s Collegium. “Perhaps there is a need to pay attention to China’s experience, which provides its enterprises with state guarantees and subsidies, thus ensuring the ability of companies to work on a systematic and long-term basis.”
Previous meetings were a marketplace for fantastic ideas. Business leaders frequently discussed the lack of credit lines and guarantees as barriers, as well as a lack of knowledge of the business environment as a challenge. Lavrov stated in a message sent in mid-June that “In these difficult and critical times, Russia’s foreign policy has prioritized strategic partnership with Africa. Russia is encouraged by Africans’ willingness to expand economic cooperation.”
That is why Lavrov’s earlier suggestion, as early as 2019, of writing a chapter on China’s approach and methods in Africa is arguably important, particularly when discussing the issue of relationship-building in the context of the current global changes of the twenty-first century. Russia could follow China’s lead in financing various infrastructure and construction projects in Africa. Within the context of the emerging multipolar world and growing opposition to Western hegemony and neocolonialism, Russia must consider a broad-based approach to strengthening and sustaining impactful multifaceted relations with Africa.
In stark contrast to key global players such as the United States, China, the European Union, and many others, basic research findings show that Russia’s policies have little impact on African development paradigms. Russia’s policies have frequently ignored Africa’s long-term development concerns. Russia must adopt an action plan, a practical document that outlines concrete, substantive cooperation between summits. Finally, Russians must keep in mind that the African Union Agenda 2063 is Africa’s road map.
By Kestér Kenn Klomegâh
At the St Petersburg International Economic Forum 2026, the traditional “Russia-Africa Business Dialogue”, which was initiated in 2016, will deliberate aspects of forging economic cooperation between Russia and African countries. For a decade since its creation, this platform has practically discussed most pertinent roadblocks, highlighted the economic sectors, and outlined the prospects. The significant issues have also been treated at the first and second Russia-Africa summits.
As Moscow prepares to hold the next Russia-Africa summit in October, it is quite clear that Russia has still not worked out financial mechanisms to support its investments across Africa. Generally, the federal strategy for this area has been mapped out, Russian investors understand where to invest in Africa, but lacks extremely the financial motivation and approach to integrate young people into the business environment. Other constraining factors include a lack of financial support instruments the suitable environment for experience sharing and collaboration. At the same time, there are reports that point to a broad range of factors that hinder the development of youth entrepreneurship.
Historically, Russia–Africa relations have evolved through distinct phases after phases. The latest phase began from the first Russia-Africa summit through the second, and is currently moving to the third summit in October. As part of the strategic preparations, Tanzanian President Samia Suluhu Hassan was the guest of Vladimir Putin in the Kremlin. Russia and Tanzania have had good relations, but it has been more than a century since the last state visit of a Tanzanian leader to Russia. From the historical records, Mwalimu Nyerere visited in 1969. As a result, Samia Hassan’s official working visit had a special historic significance for the bilateral relations. “We see this as a very positive sign,” noted Putin. Further to that, Samia Hassan was decorated with an honorary doctorate degree (Doctor Honoris Causa) at the Russian Peoples Friendship University, expressed gratitude for the political solidarity, and underlined Russia for the great contribution which it provided during the African political liberation in the 60s.
Tanzania’s Distinctive Profile
Sergei Kiriyenko, the Deputy Chief of Staff of the Presidential Administration who oversees the department, visited Tanzania after the November 2025 elections. In addition, Putin’s aide Yuri Ushakov called Tanzania “one of the key partners on the African continent,” recalling that it is home to approximately 70 million people. Samia’s visit to Russia is a victory for Russian diplomacy in Africa, as Tanzania is one of those allies that strengthen Moscow, says Andrey Maslov, Director of the HSE Centre for African Studies. According to the expert, cooperation is based on mutual benefit, and Tanzania does not require assistance. The country is among the continent’s economic leaders, distinguished by high growth rates, a stable political system, and a friendly attitude towards Russia. Russia’s interest in Tanzania is largely due to its geographic location and access to the Indian Ocean. The port of Dar es Salaam is considered a key transport hub in East Africa, serving transit routes to the East African Community (EAC) countries, along with the Kenyan port of Mombasa. Given Tanzania’s population, the EAC’s combined market represents over 300 million people, and the potential for expanding trade lies primarily in agricultural products, fertilisers, and basic industrial goods.
Africa’s participation at the St Petersburg 29th forum is very unique, with the majority from East and Southern Africa. The Director General of the Tanzania Investment and Special Economic Zones Authority (TISEZA), Gilead J. Teri, noted that the Tanzanian delegation has a unique opportunity to advance its agenda and strengthen bilateral relations. The forum gave a powerful boost to trade and economic cooperation. Tanzania presented its investment potential to the Russian business community. Therefore, it could be said that bilateral relations between Russia and Tanzania are flourishing and developing dynamically today.
Eastern and Southern Africa’s Dimensions
While it envisages strengthening ties in a broad range of fields, targeting the Eastern and Southern regions by utilising Tanzania as the gateway, Russia shows that the key partners in that part of Africa. Russia’s attributes for raising investment relations are clear: stability, untapped resources and human capital.
Putin’s meeting with Tanzania’s Samia Hassan, aiming at lifting up bilateral cooperation, which symbolises a new qualitative stage or a new chapter in the relations between Russia, Tanzania and the entire SADC. “Africa is an important partner for Russia, a participant in the emerging and sustainable polycentric architecture of the world order. Our relations with the states of that continent are valuable in their own right and should not be subject to the fluctuations on the international arena,” Foreign Minister Sergey Lavrov also said long time ago at the Russia-Africa civil/public gathering held in 2018, in attendance was Stergomena Lawrence Tax, who headed the Southern African Development Community (SADC).
“We are aware that our African friends hold the same views. Relying on the accumulated experience of productive cooperation, Russian diplomats seek to pursue a consistent policy for deepening the range of Russia-Africa relations,” he added. Lavrov said it is necessary to maximise the potential of public, cultural and business diplomacy in the interests of strengthening and expanding the mutually beneficial ties between Russia and African states while invariably adhering to the principle of African solutions to African problems, formulated by the Africans themselves.
Stergomena Lawrence, however, observed that Russia has not been that visible in the region as compared to China, India or Brazil. But it is encouraging that Russia has made the decision to reposition itself as a major partner with Southern Africa. She expressed gratitude that Russia has launched a plan aimed at improving direct trade with the continent/region beyond the traditional sectors like mining, seeking to invest in areas like agriculture, industrial production, high technology and transport.
The Russian Federation’s priorities are also in line with SADC priorities, as evidenced by the priorities of the Foreign Economic Strategy in the region, as indicated below:
Prospecting, mining, oil, construction and mining, purchasing gas, oil, uranium, and bauxite assets (Angola, Namibia and South Africa);
Construction of power facilities—hydroelectric power plants on the River Congo (Angola, Namibia and Zambia) and nuclear power plants (South Africa);
Creating a floating nuclear power plant, and South African participation in the international project to build a nuclear enrichment centre in Russia;
Railway Construction (Angola);
Creation of Russian trade houses for the promotion and maintenance of Russian engineering products (South Africa).
Participation of Russian companies in the privatisation of industrial assets, including those created with technical assistance from the former Soviet Union (Angola).
In the Russian Federation, 10 SADC member countries have their diplomatic offices, namely: Angola, Democratic Republic of Congo, Madagascar, Mauritius, Mozambique, Namibia, South Africa, Tanzania, Zambia and Zimbabwe.
Final Words of Wisdom
In pursuit of following Putin’s policy to strengthen ties with the Global South, including Africa, Russia has to re-strategise and take up the existing critical challenges. Despite a noticeable increase in activity, Russia’s strategy on the continent faces several persistent structural limitations that require thoughtful responses. As geopolitical changes heat up, Russia has to understand the necessity to move ahead, back away from tectonic rhetoric and symbolism of diplomacy. By 2025–2026, the African continent had firmly established itself as a key area of global competition and, simultaneously, one of the most important reserves of economic growth. For Russia, this is important to change the very logic of its African ties. It is logical to walk the talk. In other words, Russia’s relations with African countries have to shift from historical rhetoric to a more practical architecture of interests.
On December 19–20, 2025, the second ministerial conference of the Russia-Africa Partnership Forum was held in Cairo, with the Roscongress Foundation acting as the operator on the Russian side. The conference was attended by the heads of the African foreign ministries and the leaders of the continent’s integration associations. That conference has been defined as a key stage in the preparations for the third Russia-Africa summit, scheduled for October 2026. As noted by Russian Foreign Ministry spokesperson Maria Zakharova, the meeting is intended to “give additional impetus to the development of the Russian-African partnership and the strengthening of its truly strategic nature.”
For Moscow, institutionalising the format is crucial given the overall transformation of global politics. And ultimately, Africa is becoming a space where external players’ ability to not only declare respect for sovereignty but also propose practical mechanisms for cooperation is being tested. Russia’s strategy is built on combining political rhetoric about multipolarity with concrete areas of cooperation—from trade to energy, and food security to personnel training and military-technical cooperation. Economic spheres and building infrastructures are important for Africa, which is ready for foreign investors with adequate funds and not just geopolitical rhetoric. It has to be noted that Africa is a space of competition between external players.
The continent is an arena of intense competition, with China, the European Union, the United States, Turkey, India, and the Gulf states all operating simultaneously, each offering its models of interaction: from large-scale infrastructure financing to military cooperation and religious and cultural influence. African states are becoming increasingly pragmatic and multi-vector—they are consistently expanding their foreign policy space, weighing the conditions, benefits, and political costs.
In such an environment, the sustainability of Russia’s presence is determined by its ability to offer a concrete and replicable set of advantages. Anti-colonial rhetoric and appeals to historical legacy remain important, but they no longer provide a long-term advantage on their own. Each competitive proposition must be backed by institutional support.
At the St. Petersburg forum, there was a genuine international community of like-minded partners practically united by a common goal: networking and developing business cooperation. “The continued participation confirms the demand for building relationships of business trust and confidence with foreign partners from different regions, including the United States, Europe, the Middle East, Latin America, Asia and Africa,” said Alexander Stuglev, Chairman of the Board and CEO of the Roscongress Foundation. The Roscongress Foundation held the 29th St Petersburg International Economic Forum (SPIEF) from 3 to 6 June 2026.
By Adedapo Adesanya
CANAL+ has expressed confidence in its ability to turn around the fortunes of struggling broadcaster MultiChoice as it marks a milestone by becoming the first French company listed on the Johannesburg Stock Exchange (JSE).
The secondary listing of CANAL+ signals strong international confidence in South Africa’s capital markets and reinforces the JSE’s role as a conduit between global capital and African growth opportunities, it said in a statement.
CANAL+ enhances the JSE’s sectoral diversity and provides local investors with direct, rand-denominated exposure to a globally diversified media and entertainment business with a significant African footprint. CANAL+ listed on the London Stock Exchange in December 2024.
The group’s listing on the JSE aligns with its long-term strategy to expand its presence in high-growth markets, particularly in sub-Saharan Africa, where rising connectivity, a young and growing population (expected to increase by 800 million by 2050), strong GDP growth (4.5 per cent growth expected between 2026 and 2030) and accelerating demand for content and connectivity continue to drive sector growth.
The JSE listing will increase CANAL+ liquidity and enable African investors to benefit from CANAL+ growth.
According to Mr Maxime Saada, CEO of CANAL+ said, “Joining the Johannesburg Stock Exchange is a statement of our ambition and illustrates our belief in Africa’s future and its creative industry.
“We are proud to become the first French company ever to list in Johannesburg and the only global media and entertainment company listed on the exchange.
“Following our listing on the London Stock Exchange 18 months ago, this dual listing reinforces our ambition to be a bridge between Europe and Africa and anchors our dual-continental approach, consolidating our unique position in the global media and entertainment industry,” he said.
He noted that CANAL+ serves more than 40 million subscribers and generates €9bn in annual revenue.
“Africa will be our growth engine for years to come, and we are dedicated to creating value on the continent and sharing it with our African partners, investors and the creative community. By welcoming African investors, we deepen our roots, diversify our investor base and lay the foundation for the next phase of our growth.”
Commenting on the listing, Ms Valdene Reddy, Group CEO of the JSE, said, “We are proud to welcome CANAL+ to the JSE and to mark the first listing of a French company on our exchange.
By Adedapo Adesanya
The President of the African Development Bank (AfDB), Mr Sidi Ould Tah, says more African countries are likely to regain or achieve investment-grade credit ratings by next year as reforms begin to deliver results and economic growth accelerates.
Several African sovereigns have already been upgraded in recent months, including Nigeria. However, Nigeria is not yet near investment-grade status.
In May, S&P Global Ratings upgraded Nigeria’s sovereign credit ratings to ‘B’ with a stable outlook, citing structural reforms under President Bola Tinubu and key drivers like higher oil production and improved fiscal revenue.
The country is still five notches from investment-grade. Under S&P’s rating scale, the progression follows— B → B+ → BB- → BB → BB+ → BBB- (investment grade).
S&P raised Morocco to investment grade last year and increased South Africa by one level to BB in November. Ghana, Zambia, the Ivory Coast and Kenya have also benefited from positive rating action linked to fiscal, debt and economic reforms.
“We’re quite confident that the continent will continue to grow very strongly and that African countries will be better rated in the coming years,” Mr Ould Tah said in an interview with Bloomberg.
“We’ve seen Morocco receive investment grade during the last few months, and we expect other countries by next year to get toward that,” he added.
The outlook reflects improving fiscal positions and reforms implemented across countries on the continent, even as the conflict in the Middle East threatens to slow economic growth and raise costs for energy-importing nations. Better credit ratings can help countries borrow at lower rates and fund development projects.
The AfDB projects the continent’s gross domestic product expansion will accelerate to 4.4 per cent next year, if the conflict in the Middle East does not extend for a longer period. It expects the continent to slow to 4.2 per cent this year.
The war in Iran has benefited oil producers such as Nigeria, Angola and Gabon, while exerting pressure on the fiscal positions of net energy importers such as South Africa, Kenya, Ghana and Senegal.
Mr Ould Tah said the bank is ready to support countries facing budget constraints and high debt burdens due to the impact of the Iran crisis, including increasing credit lines to them.
“The board of directors of the bank will examine in the coming days how the bank can increase the volume of resources it will provide to its member countries in this specific situation,” he said.
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