Brazil: Angola and Mozambique seek funding from Brazilian bank

24 April 2008

Brasilia, Brazil, 24 April – The governments of Angola and Mozambique have sent representatives to Brazilian economic and social development bank, Banco de Desenvolvimento Económico e Social (BNDES) to find information about Brazilian ethanol technology, news agency Estado reported Wednesday.

The agency added that the government missions aimed to collect information about the financing conditions for the import of equipment and technology to build ethanol factories.

the BNDES has a portfolio of 62 financing operations for ethanol projects, all of them in Brazil.

Of that total, 19 have already been contracted to the value of 1.7 billion reais supporting total investment of 2.2 billion.

A further 17 have been approved for financing of 1.9 billion reais and investments of 2.5 billion and the remaining operations are being analysed.

The BNDES finances up to 100 percent of ethanol production equipment, as well as 70 percent of other equipment selected by the institution. (macauhub)