Angolan development bank BDA funds 275 agricultural and agro-industrial projects in 15 Angolan provinces

7 August 2013

Angolan bank, Banco de Desenvolvimento de Angola (BDA) has funded 275 projects to the value of US$266 million in 15 of Angola’s 18 province as part of the Angolan government’s Economic and Social Development Programme, Angolan weekly newspaper Expansão reported.

The funding is to support agricultural projects worth an estimated US$220.4 million and US$45.6 million for agro-industrial projects.

The BDA has financed agro-industrial projects in the provinces of Kwanza Sul, Huíla, Malanje and Benguela worth a total of US$45.6 million.

According to the BDA’s director for financing Policies and Programmes, João Cunha, in the agricultural sector so far the BDA has funded 91 projects in Kwanza Sul worth US$97.2 million, whilst in Malanje it has financed 12 projects to the value of US$17.6 million.

Cunha also said that in the provinces of Huíla and Lunda Sul, the bank had provided funding for 35 projects in each province costing US$23.2 million and US$17.6 million.

In Lunda Norte and Bengo, the BDA financed 36 and 26 projects, respectively costing US$17.8 million and US$17 million and in the provinces of Huambo and Kwanza Norte 19 projects, costing US$16.4 million.

“The provinces of Uíge, Moxico, Bié, Cabinda, Cunene and Luanda also benefited from BDA funding, and in Luanda six projects totalling US$5 million were financed by the bank,” he said.

The programme also included Uíge province with US$1.2 million to finance three agricultural projects, as well as Bié province, whose three projects cost US$1 million.

The BDA also provided Moxico province with a loan of US$640,000 for two agricultural projects and Cabinda province with US$1.2 million for a single project. (macauhub).