Africa-Press – Angola. The Development Finance Institutions (DFIs) of the Southern African Development Community plans to create a regional bank with the purpose of capitalizing these institutions and enabling the execution of projects in the countries of the region.
The information was made official on Wednesday (11) in Luanda by the Chair of the Executive Committee of the Development Bank of Angola (BDA), João Quintas, at the end of a meeting between the Minister of State for Economic Coordination, José de Lima Massano, and executive directors of the DFIs.
He added that the initial capitalization foreseen is USD 2.5 billion.
João Quintas acknowledged that development finance institutions still face capital issues, a reality that reinforces the need to create a common fundraising platform.
He also spoke of the intention of regional integration, in order to allow each financial institution to finance projects outside its country of origin.
During the meeting, the Minister of State and the executive directors discussed the Forum of Directors of Development Finance Institutions of SADC, taking place on Thursday (11) in Luanda, to debate the role of development financing in the region.
Running under the motto “Unlocking Africa’s Future: The Role of Development Finance Institutions (DFIs) for Regional Integration and Sustainable Growth,” the event will bring together decision-makers and experts to discuss topics linked to the financing of structuring projects, market integration, economic sustainability, and infrastructure development for regional integration, promoting the sharing of best practices and institutional alignment among SADC member countries.
The Forum is organized by the Southern African Development Community – Development Finance Resource Centre (SADC-DFRC), a subsidiary of SADC, in conjunction with the Development Bank of Angola (BDA).
This event reinforces the importance of regional cooperation and the exchange of experiences between similar institutions, in a context where global economic and social challenges require coordinated responses, appropriate financial instruments and a long-term vision.
