Non-oil sector receives funding of US$200 million from Banco de Desenvolvimento de Angola

17 July 2009

Luanda, Angola, 17 July – Angolan bank, Banco de Desenvolvimento de Angola (BDA) has, since it started operating in 2007, provided loans totalling US$200 million to Angolan businesspeople in the non-oil sector.

The information was provided by BDA chief executive, Valter Barros Wednesday in Luanda at the end of a conference held as part of the Luanda International Fair (Filda/2009) organised by the Portugal/Angola Chamber of Commerce and Industry in partnership with Banco Fomento Angola (BFA).

According to the CEO, the BDA’s main role is to fund economic project of Angolan businesspeople operating in the non-oil sector, and around 160 projects have thus far been approved to receive the funding.

“Our aim is to diversify economic investment in the country and increase the weight of the non-oil economy in national GDP,” he noted.

He also said that the BDA, on a quarterly basis, received 5 percent of oil tax revenues and 2 percent of diamond tax revenues and is currently in contact with international institutions to support its programme.

The meeting was attended by representatives of various banks, investors, businesspeople, amongst other representatives of the financial sector. (macauhub)