The global body is working with African Export-Import Bank on a platform to facilitate transactions involving Russian grain supplies, Rebeca Grynspan has said
Exclusive News
The UN Conference on Trade and Development (UNCTAD) has been working on facilitating Russian grain and fertilizer exports to Africa, its head, Rebeca Grynspan Mayufis, told Reuters this week. The UN is cooperating with Cairo-based African Export-Import Bank to this end, she added, according to RT News.
“We are working with them [Afreximbank] and making a platform that will allow for a more agile due diligence, with the clients to comply with the sanctions but allow for the transactions of food and fertilizers to Africa,” Grynspan said. She did not elaborate on the details of the mechanism being developed.
Under the grain deal struck last July by Russia and Ukraine with UN and Turkish mediation, the international body is obligated to help Moscow overcome the obstacles it was facing to exporting its grain and fertilizer. The agreement also involved allowing Russia to buy agricultural equipment and spare parts, as well as lifting a ban on insurance coverage and unfreezing the accounts of relevant Russian companies.
