Banda: South-to-south bank could aid infrastructure

30 September 2009

A bi-regional bank funded by south American and African nations could be a great help to infrastructure development, investment and project finance, Zambian president Rupiah Banda has been quoted by the Times of Zambia as saying.

The proposal was put forward at the second Africa and South American Summit (ASA) this week in Venezuela, a meeting which saw various states go home with some ten new collaborative deals, many of which were for the energy sector.

South Africa's public oil company PetroSA entered in a venture to develop an oil field in Venezuela.

Energy cooperation agreements were signed with Niger, Sudan and Cape Verde including gas-to-diesel technology development and offshore natural reserve harvest.

A deal for collaboration on oil refining and production between the host nation and Mauritania is also in the pipeline.

Rafael Ramirez, Venezuelan minister of energy and petroleum, reported the creation of an electricity multi-national between South Africa and South America was also being discussed.

Categories: General, Energy

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