Angola: BDA provides credit of US$178 million to agri-livestock and industrial sectors

29 April 2009

Luanda, Angola, 29 April – Angolan bank, Banco de Desenvolvimento de Angola (BDA) has, since it started operating in 2007, provided loans totalling US$178 million, of which US$52 million to the agri-livestock sector, the chairman of the state bank said in Luanda Tuesday.

Speaking on the theme of “Credit Mechanisms and Opportunities for Agriculture,” Teodoro Paixão Franco said that thus far BDA had provided loans in 13 provinces, with a view to generating 3234 jobs, in a total of 98 projects.

Paixão Franco said that, of the total funding, 30 percent, or US$52 million were for agriculture, agri-industry and livestock, and the remaining amount was for the distribution of goods and services, industry and construction.

The BDA chairman said that his bank planned to get closer to small-scale farmers and open up five branches this year, with the specific aim of serving agricultural families.

In terms of mechanisms and opportunities for credit to agriculture, Paixão Franco noted that in the agri-livestock sector there were many opportunities for national entrepreneurs.

The meeting was attended by members of the Government, businesspeople, farmers, cattle breeders, banks, insurance companies, politicians, technicians, rural workers associations, cooperatives, and international agencies amongst other guests.

The conference was held under the theme of “Food Production and Fighting Hunger: A First Line Priority” and aimed to publicise the Government’s activities, ensure the establishment of public-private partnerships and drive the will and resources needed for the success of the programmes and projects in this area. (macauhub)

MACAUHUB FRENCH