The establishment of a branch of the BRICS' New Development Bank in the Central African Republic (CAR) will be a logical step after the planned opening of the institution's regional representative office in the capital city of Bangui, the CAR's trade and industry minister, Lea Mboua, told Sputnik
BANGUI (Pakistan Point News / Sputnik - 17th April, 2023) The establishment of a branch of the BRICS' New Development Bank in the Central African Republic (CAR) will be a logical step after the planned opening of the institution's regional representative office in the capital city of Bangui, the CAR's trade and industry minister, Lea Mboua, told Sputnik.
"We have earlier agreed to establish the BRICS' regional representative office in Bangui, and it will be logical if we open the branch of the BRICS bank as well," Mboua said.
The minister also expressed hope for an early realization of these plans and said it was necessary to speed up the work in this direction, as well as to preserve the work pace after the visit of the BRICS delegation to the country.
She also said that the realization of seven projects, including in the energy sector, had been discussed during the delegation's visit, as the development of the CAR's industry was "impossible" in separation from this field.
This past Friday, China and Brazil supported discussing the expansion of the BRICS format and stressed the need to clarify the guiding principles, norms, criteria and procedures for this expansion process based on broad consultation and consensus.
BRICS unites the world's largest developing economies � Brazil, Russia, India, China, and South Africa. A number of other countries intend to join the economic bloc, including Argentina, Iran, Indonesia, Turkey, Saudi Arabia, and Egypt.
