November 16, 2007 (LPAC)--LPAC happily reports that, speaking before the annual convention of the Argentine Industrial Union (UIA) November 14, Chief of Staff Alberto Fernandez, who will occupy the same post for incoming President Cristina Fernandez de Kirchner, announced that the new President is committed to creating a national development bank, to ensure long-term financing for industry, a project which Lyndon LarRouche has fully backed; but has been threatened by the British Empire.

The new bank will "serve those businessmen who are interested in production...the men of industry," Fernandez said, to the enthusiastic applause of 800 business leaders in the room.

The announcement of the bank's creation was also warmly greeted by Armando Mariante Carvalho, the Vice President of Brazil's giant National Economic and Social Development Bank (BNDES), which many industrialists see as a model for an Argentine development bank. BNDES was created in the early 1950s by nationalist President Getulio Vargas, for the specific purpose of financing industry and infrastructure.

Mariante, one of the invited speakers at the UIA conference, told the daily Clarin that Argentina has "all the conditions for long-term, sustainable development through the creation of a development bank." There have been no official contacts, he said, but "there is political will." Noting that President-elect Cristina Kirchner will be traveling to Brazil on November 19 to meet with President Lula da Silva, Mariante suggested that the two leaders might discuss the proposed bank there. "We would share our knowledge with great pleasure," he said.

The Brazilian also remarked that there could be cooperation between the Bank of the South, to be founded on December 9, and existing development banks, to finance integration projects "among two or three countries...." Such institutions can work together he said. "There is room for everyone."