Angola’s Banco de Desenvolvimento provides US$60 million for projects in Bengo province

25 March 2010

Caxito, Angola, 25 March – Angolan bank, Banco de Desenvolvimento de Angola (BDA) has provided US$60 million to support projects in Bengo province, the chairman of the bank, Paixão Franco said Wednesday in Caxito.

During a meeting with businesspeople from the agriculture, agri-livestock, construction, rural retail, hotels and tourism, industrial, geology and mining sectors, who have projects for development of the province, Paixão Franco said that the projects would need to be viable and sustainable to be able to be funded by the BDA.

However, according to Angolan news agency Angop, he said that the bank planned to set up a training programme for businesspeople to learn techniques for structuring projects, which must contain information about guarantees for concession of the loans.

During the meeting the local and foreign businesspeople showed some concerns, particularly about transporting goods out of the province, access to credit as well as acquisition of plots of land to carry out their projects. (macauhub)