The Russian Trade and Industry Ministry is expecting to launch a state support mechanism for the supply of Russian mechanical engineering products to African countries in 2025, Russian Trade and Industry Minister Denis Manturov told Sputnik.
"New markets, especially in Africa and Latin America, require an individual approach, so today we are actively working toward expansion of support for exporters. For example, the establishment of the supply support mechanism of Russian engineering products to African countries is already being worked out with Russian leasing companies, and we expect its launch starting 2025," Manturov said.
He added that the scheme would provide Russian exporters with compensation when delivering products to a leasing company at a price below the market rate for making the goods cheaper for final consumers and boosting competitiveness.