The president of the Central Africa Development Bank, Fortunato Ofa Mbo Nchama, made an official trip to India, to take part from 25th to 27th of this month in the XIII India-Africa Conclave dedicated to the partnership for the development of the continent, organised by the Confederation of Chambers of Commerce and Industry and EXIMBANK.
For the leader of BDEAC, this conclave is an opportunity to reopen dialogue with Indian authorities, in order to strengthen cooperation between financial institutions in general, and with EXIMBANK in particular.
Opening the event, the Indian Minister for Commerce and Industry, Suresh Prabhu, firmly expressed the will of his country to play a key role in the economic development of Africa, and affirmed that India wanted to become a privileged partner for the continent in all areas of development, in particular regarding the economy and commerce.
Continuing with the work schedule, and accompanied by his Cabinet Director, Gil Blas Sop and the Director of General Control, A�scar Ngole, Fortunato Ofa had a meeting on Monday 26th, with the president of EXIMBANK, David Rasqhina. The two looked at the possibility of setting up strategic cooperation between the two institutions in order to co-finance infrastructure projects in the subregion.
The president of BDEAC was also received in audience on 27th by the minister, Suresh Prabhu. Ofa Mbo, after mentioning the lack of Indian investment in Central Africa, in relation to other areas on the African continent, invited the Asian leader to take advantage of the investment opportunities provided in the CEMAC area, and proposed the organisation of an India-Central Africa Economic and Commercial Forum, dedicated to the partnership for modernising agriculture and the promotion of an agricultural industry, as is taking place in eastern, western and southern Africa.
In reply, the minister accepted the proposal from his visitor with enthusiasm, and recognised that the economic presence of India in Central Africa had not met his ambitions, and affirmed that his country will make an effort to remedy the situation. He concluded by committing to working with the various institutions involved in his country, in order to bring about the organisation of the economic forum.
Source: Official Web Page of the Government of the Republic of Equatorial Guinea