Brazil’s BNDES finances US$205 million in Angolan projects

16 April 2007

Sao Paulo, Brazil, 16 April – Brazil’s Banco Nacional de Desenvolvimento Económico e Social (BNDES) has, since 2006, provided US$205 million in financing for projects exporting goods and services to Angola, a figure which could triple by 2008.

Figures obtained by Portuguese news agency Lusa from the foreign trade department of BNDES showed that most of the approved financing – US$126 million – was for goods and services for road construction in Angola.

The remaining funds were split between goods and services for technical education centers (US$34 million), re-equipping security services (US$21 million), power generation equipment (US$16 million) and agricultural equipment (US$8 million).

The Brazilian government has since 2006 supported exports to Angola, via the BNDES and the operation is supported by the BNDES-Exim credit line and guaranteed via insurance for export loans by the Export Guarantee Fund.

The priority of the projects financed is decided by the National Bank of Angola (BNA).

According to Luiz Araújo Dantas, from the foreign trade department of BNDES, the resources available in 2007 and 2008 total US$750 million.

Until 2007, the Brazilian government provided US$580 million in export loans.

in 2006 Brazilian exports to Angola rose by 60 percent against the previous year, to US$836.1 million, and rose more than two-fold since 2004. (macauhub)