Venezuela: Bank of the ALBA venue in Cuba to be opened in April

[Mika]

Venezuela: Bank of the ALBA venue in Cuba to be opened in April
http://mathaba.net/news/?x=586788

Caracas, Mar 25. ABN.- Next Wednesday April 9th, a venue of the Bank of the Bolivarian Alternative for the Americas (ALBA, Spanish acronym) will be opened in La Havana, Cuba, the Minister of the People's Power for Finances, Rafael Isea, informed.

In an interview offered to “Dando y Dando” (television program, broadcast by the state-own channel Venezolana de Televisión, VTV), the Minister said that this financial institution has born as a tool for the development of the countries that are part of this mechanism: Venezuela, Cuba, Nicaragua, Dominica, and Bolivia.

In this regard, Isea said that next April 8th, a promoter group will be appointed, which will be formed by a representative of each ALBA's countries.

He added that the goal of this group will be to start Bank's operative work until the end of April, as well as appointing a General Manager.

The signing of the foundational act of the Bank of the Alba was carried out last January 26th. A 60 days period to finish all the pending aspects was established by then.

In this sense, Isea said that “today, March 25th, 59 days after, we are informing that we have comply with the established term and we have finished the discussion of all the pending issues”.

The Minister of Finances said also that ALBA countries have already completely agreed the constituent document.

Furthermore, he commented that it was agreed the incorporation of the capital or the foundational act of the Bank, which will count at the beginning with 2 billion dollars of authorized capital and 1 billion dollars of subscribed capital.

The Bank of the ALBA was an initiative of the President of the Bolivarian Republic of Venezuela, Hugo Chávez Frías, supported by his counterparts of Cuba, Bolivia, Dominica, and Nicaragua.
http://www.mathaba.net/news/venezuela

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[Judi Lynn]

1. Best wishes to their joint enterprise. Hoping so much they have anticipated the many ways Bush will

move to destroy this effort.

Hoping their front row seats to ruthless machinations over the decaades from some U.S. Presidents have allowed them to educate themselves on the methods and means of sabotage and destruction they can expect to be used against them.