OREANDA-NEWS  The Speaker of the Parliament of the transitional period of Burkina Faso, Ousmane Buguma, proposed to create a joint bank of Russia and Africa with the opening of a branch in his country. According to the politician, the organization would facilitate banking operations and simplify financing of Burkina Faso development projects for Moscow, RIA Novosti reports.

"When trading and investing together, it is very useful to have a financial system or a bank to facilitate transactions," he stressed. According to the African politician, the corresponding decision would contribute to strengthening cooperation between Burkina Faso and Russia in the main sectors of the economy.

Earlier, Russian Ambassador to the Republic of the Congo (RK) Georgy Chepik said that in the coming months the countries will sign an agreement on the construction of a pipeline for the supply of petroleum products to the African country. The route will connect the largest cities of the Republic of Kazakhstan — Pointe-Noir and Brazzaville.

The intergovernmental agreement should be signed before the Russia—Africa summit, which will be held in July 2023 in St. Petersburg. The Russian company ZNGS-Prometheus is showing interest in the project.

In addition, Christopher Mutsvangwa, the speaker of Zimbabwe's ruling ZANU-PF party, asked Russia to build an oil pipeline through Mozambique. According to him, the country would like to cooperate with Moscow in the construction of ports, railways, electricity generation and distribution facilities.