ADB finances 863 projects in Angola estimated at over US$1 billion

26 March 2015

The Angola Development Bank (BDA) between 2006 and 2014 funded more than 863 projects in Angola linked to agricultural, industrial, commercial and services involving more than US$1 billion, Angolan news agency Angop reported.

The information was provided by Valter Barros, a BDA director in Luanda, who said the industrial sector had received most funding (51 percent) followed by agriculture (35 percent) and trade (14 percent).

The Director of the BDA for programmes and business, João Cunha, who spoke at the meeting entitled “Presentation of ADB Strategy and Action” in Luanda announced, meanwhile, that by 2017 the bank will finance 362 projects related to agricultural production in the provinces of Kwanza Sul, Bengo and Bié and construction of development hubs in Cuando Cubango, Huila, Lunda Norte and Lunda Sul.

Over the next three years the BDA expects to fund projects worth US$5 million. (macauhub/AO)