Portugal: Millennium and Privado Atlântico banks open new credit line for investment in Angola

22 May 2009

Lisbon, Portugal, 22 May – The Millenium >Angola and Privado Atlântico banks have opened a credit line to the value of US$100 million to promote investment projects in Angola , Portugal’s MIllenium Bcp bank said in a statement issued Thursday in Lisbon.

This new line “covers a vast range of medium and long term credit products to support productive investment in Angola,” the statement said.

The bank also announced that the chairmen of Millennium Angola and BPA had concluded negotiations on the construction of a complex to house shared facilities, in Talatona, known as “Cidade Financeira” (Finance City).

The same complex will serve as a basis for the central and corporate areas of the two banks, in separate buildings.

Millennium Angola is majority-owned by Millennium Bcp and its other shareholders are Sonangol and BPA. In its turn the Portuguese bank has a stake in BPA, in which Sonangol is the majority-shareholder. (macauhub)