Mozambique: President blames banks for shortage of foreign currency
Business Confederation pushes for CPLP Development Bank – Watch
7:43 CAT | 07 May 2021
Screen grab: Confederação Empresarial da CPLP on Youtube
The president of the Community of Portuguese Speaking Countries (CPLP) Business Confederation Salimo Abdula, speaking at the opening of the organisation’s first Business Summit, urged the governments of member countries to speed up the process of creating the CPLP Community Development Bank to facilitate financing for bloc projects.
“The bank will be a tool which will support projects of small, medium or large size, thus overcoming the difficulty of access to financing, which often has a high cost in CPLP countries, making projects unfeasible,” Abdula argued.
Salimo Abdula further proposed the creation of a CPLP arbitration court, because, despite being united by the same language and economic interests, conflicts between stakeholders from different member states could arise.
“This court would make it easier to settle disputes between businesspeople in the community. At this moment, this project [the CPLP arbitration court] is at a very advanced stage. A team was formed that is working hard on the subject and has already produced several document proposals and prepared a questionnaire aimed at defining an ideal model for the construction of such an arbitration court,” Abdula revealed.
The opening of the summit coincided with World Portuguese Language Day. Portuguese has around 300 million speakers spread across four continents.
The executive secretary of the CPLP, Francisco Ribeiro Telle, said that the Portuguese language should serve as a tool for the community’s development.
“The Portuguese language was at the genesis, at the creation, and is the identity matrix of the CPLP, remaining, until today, a fundamental pillar and unifying element of all the countries and peoples who share it,” Telles said.
“Language, culture, history, and a common experience continue to unite us and allow us to project together a better future for our peoples with more mobility, opportunities, more cooperation, more development, and stronger bonds of friendship,” he added.
The first CPLP Business Confederation business summit takes place under the motto, “Together We Are Stronger and Move the World Forward”.
Watch the opening ceremony below. Salimo Abdula’s address starts at around 59 minutes.
Source: Lusa / Confederação Empresarial da CPLP
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