The BRICS platform could become an effective tool to help Cuba promote its educational, medical, and biotechnology services in African markets, thanks to the financing mechanisms of the BRICS New Development Bank. This statement was made to African Initiative by Juana Lilia Delgado Portal, head of the Central Bank of Cuba.
"BRICS has the potential to strengthen economic ties between Cuba and African countries. We can use a variety of mechanisms and instruments within this partnership to implement joint projects," she said during the BRICS Women's Entrepreneurship Forum in Moscow.
According to Delgado Portal, Cuba has significant capacities in the service sector, particularly in education, healthcare, and biotechnology.
"We have developed several areas where we've achieved a high degree of expertise. We can deliver these services to other countries, but we don't have sufficient financial resources by ourselves. However, if we serve as a provider, funding could be arranged through the New Development Bank," she pointed out.
She proposed a model of tripartite cooperation.
"It creates a kind of triangle: Cuba supplies services, the New Development Bank provides the funding, and the recipient country directly benefits from receiving these services," the head of Cuba's Central Bank explained.
The second BRICS Women's Entrepreneurship Forum is being held in Moscow on May 15-16.
