Africa-Press – Angola. State Secretary for Finance and Treasury, Ottoniel dos Santos, reaffirmed on Thursday in Luanda that Angola advocates for the effective implementation of regional integration and the creation of a regional bank to finance structuring projects in the Southern African Development Community (SADC).
Speaking at the forum of the CEOs of Development Finance Institutions (DFIs), which takes place from February 9 to 13 in Luanda, the official said this action will allow overcoming the infrastructure deficit, strengthening markets and boosting industrialization in the Southern region.
According to Ottoniel dos Santos, Africa in general, and the SADC region in particular, are still grappling with structural challenges, needing infrastructure, trade corridors, energy systems, digital connectivity and industrial value chains.
“It is timely and necessary to move forward with a regional financing institution for the development of SADC, mandated by the member states and anchored in a collective force to become an economically competitive and integrated community,” he said.
He emphasized that, for successful results, joint, strategic and systematic work is needed to mobilize capital on a large scale, share risks, harmonize standards, and present credible and financeable regional projects to investors and multilateral partners.
