Russian FM attends opening of Vneshtorgbank branch in Angola.

Foreign Minister Sergei Lavrov on Saturday attended the opening of a representative office of Russia's state-run foreign trade bank in Angola.

The Russian foreign minister is currently on his African tour to discuss bilateral cooperation and international issues with officials in Angola, Nigeria and Ethiopia.

Russia's Vneshtorgbank (VTB) opens today its first branch, VTB Africa, on the whole African continent.

"I am certain that the activity of the bank will not only contribute to the flow of Russian projects to Angola and to the implementation of joint projects, not only strengthen the bank sector in Angola, but will also provide businessmen from Angola and other African countries with banking services," Lavrov said.

Russia is also considering participation in various energy projects in Angola and other African countries.

Technopromexport, Russia's state builder of energy facilities and electricity exporter, said on June 28 it was planning to get involved in two power station projects in Angola worth a total of over $1 billion.

[Source: Russian Information Agency - Novosti, Luanda 02Sep06]

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