Afreximbank Shows Interest in Russia’s Sputnik V

Source: Sputnik V Official website

The African Export-Import Bank is interested in buying Russian COVID-19 vaccines and is looking into ways to start producing them on the continent, according to Amr Kamel, the bank’s executive vice president, who added that the two parties are now in negotiations.

Russia is one of the prospective partners, according to Kamel, and the bank has already started talking about vaccine supply and production choices, Sputnik News reports.

The African Development Bank’s Afreximbank, a multinational African financial organization, has so far played a significant role in immunization efforts across the continent.

The bank has announced a $3 billion support program to assist nations in dealing with the pandemic’s aftermath, as well as a $2 billion facility to give guarantees to vaccine providers for governments who are unable to completely fund the transactions.