Cedesa, an entity that analyzes Angola's political and economic affairs, considered that "it is possible to envisage" the creation of an investment and development bank for the Community of Portuguese Speaking Countries (CPLP), as suggested by the President of Angola, João Lourenço.
In a document to which Lusa had access, Cedesa proposes that this investment and development bank, which would be "a development financing instrument" for the Portuguese-speaking African Countries (PALOP), should aim to achieve "the economic pillar of the CPLP.
"Our conclusion is that it is possible to envisage the creation of a CPLP investment and development bank with mixed capitals and a reasonably independent and efficient structure, with diverse and plural sources of funding," the entity points out in the document quoted by Lusa.
Cedesa suggests that the institution's objectives would be to finance major works and infrastructures that bring the PALOP countries closer together, to develop their economies and common access markets, and to improve the quality of life of the neediest populations.
To this end, the institution's strategy would have to be based on "three major strategic axes that would be transformed, in practice, into three consigned lines of credit.
The first would be dedicated to infrastructure - such as digital structures and networks, ports, airports, or roads - the second to economic growth projects - factories, companies, and growth-promoting economic activities - and the last to economic and social development - building hospitals, schools, training human resources.
The bank's capital stock would be divided by subscriptions from member states (1 billion euros), associated observers (500 million euros) and private individuals (250 million euros), with the institution "producing dividends from its lending activities" and "only financing projects in countries subscribing to the capital stock.
"It is believed that this can be an outline of an institution geared to the PALOPs, combining the advantages of public and private ownership simultaneously, deriving from various sources of funding, allowing better integration of the Lusophone markets, making each of the countries grow and improve the living conditions of the people who speak Portuguese, in the end, the ultimate goal of this initiative," concludes Cedesa quoted by Lusa.
The Angolan President, João Lourenço, suggested, last 17th, the creation of an investment bank for the CPLP to develop the economic potential of the countries that integrate the organization.
"We can be a relevant economic force if we work for it, we leave the challenge of starting to think about the relevance and feasibility of creating an investment bank of the CPLP," suggested João Lourenço, in his closing speech at the 13th Conference of Heads of State and Government of the CPLP, held in Luanda.
The creation of a potential bank is aligned with the intention of including a new economic and business pillar, one of the priorities of the Angolan presidency of the CPLP, which began on Saturday.
Angola assumed the rotating presidency of the Community of Portuguese Language Countries for the next two years following the Luanda event.
Angola, Brazil, Cape Verde, Guinea-Bissau, Equatorial Guinea, Mozambique, Portugal, São Tomé and Príncipe, and Timor-Leste are the nine member states of the CPLP, which is celebrating its 25th anniversary.