Bank of Brazil funds Brazilian companies in Angola

4 September 2013

The Bank of Brazil has provided funding of around US$2 billion in 2012 for execution of contracts in Angola by Brazilian construction companies, said the bank’s resident director, Ângelo Mendes Lima.

Speaking to Angolan newspaper Expansão, Mendes Lima said that the funding had been used by the companies to buy machinery and construction materials.

“It is a significant amount for a bank that only has a representative office in Angola and shows the bank’s interest in the country and gives an idea of the business opportunities the country has,” he said.

The Bank of Brazil’s resident director in Angola added that in 2012 the bank had started operating with its own resources, similarly to any other retail bank. (macauhub)