Angola: BDA bank approved financing for 31 projects

17 December 2007

Luanda, Angola, 17 Dec – Angolan bank, Banco de Desenvolvimento de Angola, in October of this year approved 31 projects for funding, as a result of work carried out with entrepreneurs in the provinces of Bengo, Benguela, Bié, Cabinda, Kwanza Sul, Huíla and Huambo.

According to Angolan news agency Angop, which cited a statement from the BDA on the occasion of the bank’s first anniversary Friday, at least 157 businesses benefited from this first set of funding opportunities.

Aiming to widen the scope of its activities to other sectors, the BDA recently began its assessment of the cattle and manioc production chains, expecting to conclude work and start funding in the first quarter of 2008.

According to the statement, in order to bring together the technical capabilities of other financial partners, the common mission of supporting and sustaining national economic development, the BDA signed agreements with several banks operating in the market, including Banco Africano de Investimentos, Banco de Comércio e Indústria, Banco de Poupança e Crédito, Banco Espírito Santo Angola, Banco Popular de Angola, Banco Regional do Keve and VTB-África. (macauhub)