CAR welcomes establishment of BRICS’ Bank in Country

Central African Republic (CAR) Trade and Industry minister, Lea Mboua Doumta has indicated that the African country is keen to house a BRIC’s New Development Bank, after it agreed to establish the BRICS’ regional representative office in capital Bangui.

“We have earlier agreed to establish the BRICS’ regional representative office in Bangui, and it will be logical if we open the branch of the BRICS bank as well”, Mboua Doumta told Sputnik news agency.

She urged for plans to speed up the work in this direction, as well as to preserve the work pace after the visit of the BRICS delegation to the country, the Russian news agency added.

The BRICS, a grouping of Brazil, Russia, China, and South Africa, are poised to implement seven projects, including energy, in CAR. The country, a former colony of France, has slid into Russia’s influence under incumbent President Faustin-Archange Touadéra who has tapped into Moscow to help resist rebels who want to ouster him.

“We expect the help of Russia’s private sector, manufacturers specifically, to develop agriculture… Unfortunately, all our production is executed with crude methods: we lack technology, and therefore the production output,” the minister added.

Mboua Doumta also expressed support for collaboration talks with Russian carmakers such as AvtoVAZ and KAMAZ about purchasing their products. She however stressed that it is necessary to ensure technical condition and security of CAR’s auto roads at first.