Angola’s Banco de Desenvolvimento finances projects to a total value of US$243.5 million

22 January 2010

Luanda, Angola, 22 Jan – Angolan bank, Banco de Desenvolvimento de Angola (BDA) in 2009 approved funding for 102 projects with an overall value of 20.5 billion kwanzas (around US$243.5 million), a year on year increase of 108 percent, the bank said.

Of the amount provided, according to the statement cited by Angolan news agency Angop, 176 million kwanzas is for indirect financing operation via retail banks.

Of the funded projects, 19 were for agriculture and livestock rearing, 43 for agricultural mechanisation, 24 for industry (of which 14 for construction materials industry), 10 for retail, four for transport and two for the hotel sector.

In terms of the agri-livestock sector, the bank approved 12 projects, essentially with a view to producing cereals and legumes and of these the bank noted three projects for large-scale production in the municipal areas of Cacuso (Malanje province) to the value of 563.5 million kwanzas, Bailundo (Huambo province) with 455.5 million kwanzas, and Quibala (Kwanza Sul province) to the value of 423.4 million kwanzas.

As for the industrial sector, the BDA funded a project worth 785.4 million kwanzas in the city of Lubango, Huíla province, for producing fertilisers, as well as two logging projects, one to the value of 662.2 million kwanzas in Cuima municipality (Huambo province) and another worth 171.7 million kwanzas in Dange, Uige province.

The statement from the bank said that financing for the construction materials industry had seen a significant rise at the BDA, with a total of 15 approved projects. (macauhub)