Creation of Development Bank can be discussed in July

Creation of Development Bank can be discussed in July


Cape Verde's finance minister admitted that the proposal to create a development bank for the Community of Portuguese-Speaking Countries (CPLP) could be discussed by the member states of the organization already in July.

Speaking to Lusa, on the sidelines of the 1st Forum of Economists of Portuguese-Speaking Cities, held in Lisbon, and also as the representative of CPLP's rotating presidency, Olavo Correia said that Cape Verde "wants to take the idea [of creation of the Bank] for the July [Foreign Ministers'] meeting. Not for decision, but to be discussed".

"We want to develop this proposal, in partnership with the other countries. The leadership of Cape Verde will put this on the table (...), shortly, "he assured, but stressed that it is up to the President of the Republic of the country to move forward with this proposal.

He does guarantee one thing: "We want to make every effort at the level of the CPLP, so that we can put this idea on the table and reach an understanding", about the configuration of the financial instrument.

The idea, according to the Cape Verdean minister, is to create "a kind of Development Bank, which includes financing, insurance and venture capital activity, to support good projects that need financing, whether they are small, medium or large".

The idea of creating a CPLP financial instrument had already been addressed at other times, but with no horizon to be discussed.