Russian EXIM bank to invest $ 50m in Ghana

As part of moves to establish and promote trade relationship among countries, the Russian Exim Bank has hinted of investing between 1 and 50 million dollars into key business sectors in Ghana.

The Bank says the investment forms part of moves to enhance Ghana’s competitiveness and reduce unemployment.

“The benefit from this business is the jobs from one million us dollars to I believe 50 million dollars.  So it’s approximately the limit.”, a representative of Exim Bank, Russia, Ilya Shulikov said.

The investment is also to deepen the long-standing relationship between the two countries.

In an interview with Citi Business News, Mr. Ilya Shulikov said the bank has already initiated discussions with some banks in Ghana to ensure the smooth transaction of the plan.

“Definitely there is a huge interest in the Ghanaian market and we are already interacting with Zenith Bank and Societe General; both in Ghana. We are waiting to set up close relationships and will be supportive in developing businesses here so we could not only gain some profit from the Ghanaian market but create jobs and develop business entrepreneurship and support to some extent, some industrial projects.”

“So we are not particularly focused on some particular areas but in general we are looking at interesting investment projects.” he added.

Mr. Shulikov however added that depending on the projects involved, the Russian Exim Bank may invest more than the stipulated range being offered.

“It’s however not the final limit. It’s usually the first bench that is considered. In case of industrial project for example building some renewable energy project, the limit could be much more,’ he explained.


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