Bank of ALBA plans financial support to achieve regional integration, development goals

“The Bank of ALBA is capable of providing the necessary financial support to achieve regional integration, development goals,” said on Monday the President of the Bank of ALBA, Raúl Li Causi, at the 21st Political Council of the Bolivarian Alliance for the Peoples of Our America-People’s Trade Treaty (ALBA-TCP).

Li Causi explained that, amid the COVID-19 pandemic, they have offered and found solutions to meet the economic needs of the ALBA-TCP member countries according to the 2021 Post-pandemic Working Plan, including the ALBA Humanitarian Fund to procure COVID-19 vaccines, the ALBA Health Program, the ALBA Food Program, and the ALBA Transport Program to boost commercial relations.

“The Bank of ALBA, as a regional financial institution, has proven to be a consolidated institution with an important reach and scope. Today, it is a living space among those initiatives fostered by the Alliance.”

Regarding future challenges and perspectives, the Bank of ALBA President Raul Li Causi highlighted the need for:

1. Ensuring the free circulation of funds and goods among member countries.

2. Promoting Bank of ALBA before supraregional organizations or multilateral spaces to attract cooperation funds for development.

3. Strengthening the institution with domestic actions.

“From the Bank of ALBA, we call for stepping up efforts to work on the development of creative alternatives enabling the institution to take part in local economies,” said Li Causi.