Angola: Angola’s Banco de Desenvolvimento finances 39 projects

28 May 2008

Luanda, Angola, 28 May – Angolan bank, Banco de Desenvolvimento de Angola (BDA) has funded 39 projects to the value of 400 million kwanza in four of Angola’s 18 provinces since October 2007 until now, the bank said in Luanda Tuesday.

According to the bank’s statement, the 39 projects, 12 in Bié province, 10 in Huambo, 15 in Huila and two in Cabinda, in the pilot-operation phase, were mainly focused on agriculture, agricultural mechanisation, rural trade and manufacturing.

The implementation of these projects is underway and ahs contributed to strengthening the economies of the provinces involved, with estimates that they have created at least 350 jobs.

The pilot-operations had the main aim of testing BDA’s philosophy of action focused on the funding of projects that were part of the production chains for maize, beans, cotton and the construction materials industry. The pilot-operations were carried out in nine provinces: Bengo, Bié, Benguela, Cabina, Huambo, Huíla, Kwanza Sul, Luanda and Malanje.

Now that the stage of pilot-operations is over, the BDA can roll out its activities across Angola.

The BDA will soon, according to the statement, widen its activities to production chains of other products and will from now on also consider funding projects from all economic sectors, provided that they prove to be economically, financially and socially viable and sustainable. (macauhub)