African countries will receive $2.5 billion through the International Sovereign Development Agency. It is headed by the founder of Tsargrad

The International Agency for Sovereign Development (IASD), headed by the head of the Tsargrad group of companies, Konstantin Malofeev, will raise $2.5 billion for three African countries. RBC reports this with reference to the agency's press release.

Investments will go towards the construction of an oil pipeline in Niger, as well as the development of transport infrastructure and railways in Guinea and the Democratic Republic of the Congo.

In a conversation with RBC, Malofeev refused to disclose the sources of funds to finance the announced projects. At the same time, he noted that in the near future the list of IASD client countries will expand.

The creation of the International Agency for Sovereign Development became known in September. Malofeev, who headed the IASD supervisory board, told RBC that it is a non-governmental agency consisting of “consultants.” According to Malofeev, the goal of the IASD is to help African countries “that are trying to free themselves from economic and financial dependence [on] the Western world.”

• Businessman Konstantin Malofeev was suspected of financing the unrecognized Donetsk and Lugansk People's Republics, as well as the Bulgarian Russophiles movement. Due to his connection with the “Russophiles”, Malofeevis prohibited from entering Bulgaria.