Portugal: Banif launches credit line for companies in the Azores and Madeira to invest in Cape Verde

9 April 2008

Lisbon, Portugal, 9 April – Portuguese bank Banif said that this week it plans to launch a credit line worth 15 million euros for companies from the Azores and Madeira to invest in projects in Cape Verde.

The bank said that preference would be given to projects involving Cape Verdean partners.

The credit line is due to be presented Wednesday when the president of the Azores Regional Government, Carlso Cesar, makes an official visit to Cape Verde.

The credit line is called “Parceria Atlântica” Banif/BCN and it is “aimed at boosting economic relations between Cape Verde and the Autonomous Regions of Madeira and the Azores,” Banif said.

Banif is present in Cape Verde via BCN – Banco Caboverdiano de Negocios, in which it ahs a 46 percent and controls the bank’s management.

BCn plans to increase its network of branches in order to provide full coverage of the archipelago by the end of 2008. (macauhub)