ALBA-TCP Lays Foundations to Create Development Cooperation Agency

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This institution is expected to attract resources from major international actors such as China, Russia, and Turkey.

On Wednesday, the member states of the Bolivarian Alliance for the Peoples of Our America-People’s Trade Treaty (ALBA-TCP) met to lay the groundwork for the creation of its own “Agency for Development Cooperation.”

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“As Cuban President Miguel Diaz-Canel said, our Alliance has the most humane achievements that can exist in any integration mechanism,” ALBA-TCP Secretary Jorge Arreaza said and emphasized the need to attract resources from both member states and other international organizations.

The Venezuelan politician expressed that the creation of the new ALBA-TCP development cooperation agency is essential for promoting integration and humanitarian aid in a real and direct way.

“Fulfilling the mandate of the ALBA-TCP Heads of Government Summit on April 23, delegates from the 10 member countries in the field of cooperation agree on the route for the creation of the ALBA-TCP Agency for Development Cooperation. Cooperation and alliance for life!,” Arreaza posted on social networks.

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Additionally, ALBA Bank President Raul Li Causi asserted, “the Alliance’s Agency for Development Cooperation is the tool that our leaders have put at the service of the bloc’s countries and peoples with a focus on development and the implementation of the ALBA-TCP 2030 strategic agenda.”

Li Causi affirmed that the ALBA Bank will finance projects related to renewable energy, sustainable agriculture, natural resource management, infrastructure, health, technology, digital communication, tourism, and more.

“Today, first of all, we would like to vindicate ALBA as the regional political space that has advanced the most in the field of development cooperation, compared to any global experience,” Venezuelan Foreign Affairs Minister Yvan Gil said, expressing his confidence in the agency’s ability to attract resources from major international actors such as China, Russia, and Turkey.

#FromTheSouth News Bits | The XXIII Summit of Heads of State of the Bolivarian Alliance for the Peoples of Our America – Peoples’ Trade Agreement (ALBA-TCP) concluded in Venezuela with the presentation of the ALBA 2030 Agenda and a special communique on the situation of Palestine pic.twitter.com/xFfmx8eCw5

— teleSUR English (@telesurenglish) April 26, 2024

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