Banco BIC has provided so far, more than US$300 million to finance projects in the agricultural and livestock sector, said in Luanda the chairman of the board of directors, Fernando Teles cited by Angolan news agency Angop.

According to the chairman the BIC funded projects were mainly in the provinces of Malange, Kwanza Sul, Benguela and Huila.

Teles said it was important and urgent to invest in agriculture and the livestock sector, so that Angola will no longer depend on a single product (oil) as a source of revenue for the state budget.

According to Teles, Banco BIC has provided companies, individuals and the state loans totalling US$6.3 billion.

Banco BIC has 223 branches in Angola that employ more than 2,000 people. (macauhub/AO)