Russia to allocate 500 million rubles for investment projects in Africa

The Russian government has announced plans to allocate 500 million rubles for investment projects across the continent as part of its 2025 budget proposal.

The initiative, introduced through amendments to the draft budget, will see funding channeled to selected organizations responsible for implementing these projects.

The amendments to Russia’s federal budget for 2025-2027 are expected to be presented to the State Duma on November 14, following the initial approval of the budget in October.

This allocation signals Russia’s continued effort to deepen its economic cooperation with African nations, many of which are increasingly receptive to Russian investment across diverse sectors.

Reflecting on the potential impact of this investment, Patrick Mwalula Mucheleka, Zambia’s Permanent Secretary for Special Missions, stated, “Our country is ready to welcome Russian investments.”

His remarks highlight Africa’s growing interest in bolstering partnerships with Russia to drive economic growth.

Meanwhile, Taher Al-Bour, the outgoing Foreign Minister of Libya’s Government of National Unity, invited Russian companies to engage in geological exploration projects in Libya.

This invitation underscores Africa’s keen interest in expanding economic and development cooperation with Russia.

The Russian government’s commitment to supporting African projects is seen as a strategic step in fostering mutually beneficial partnerships, aligning with the continent’s economic ambitions while broadening Russia’s global influence.