Zuma says Brics Bank must extend its core focus

President Jacob Zuma says the African Regional centre of the Brics Bank should be able to extend loans to countries on the continent, to ensure development.

President Jacob Zuma presides over the official launch of the African Regional Centre of the Brics New Development Bank in Sandton. Picture: GCIS.

JOHANNESBURG - President Jacob Zuma says the African regional centre of the Brics Bank should be able to extend loans to countries on the continent, to ensure development.

The president presided over the official launch of the Brics Bank's branch in Sandton earlier.

President Zuma says the African regional centre of the Brics Bank must extend its core focus.

“The office should in time be given the autonomy to extend loans to qualifying countries in the continent”

He says because the world, and especially Africa, continues to be plagued by poverty and human suffering, the bank must focus on helping the continent to develop.

“I call on the New Development Bank to test new boundaries, explore new possibilities and deliver sustainable solutions that will better serve humanity.”

The president also wants the bank to help fast-track investment in energy, transport, and other productive sectors in Africa.

(Edited by Zamangwane Shange)