Ver Angola


Credit Support Program financed 1487 projects in 2022

The Government will continue this year with the Credit Support Program (PAC), which included 1487 projects in 2022 for a total value of 61 billion kwanzas.


According to a statement from the Economic Commission of the Council of Ministers, to which Lusa had access, 41 billion kwanzas were initially made available to finance 1000 projects, of which 70 percent were corporate and 30 percent related to cooperatives.

However, given the "strong demand for bank credit", an additional amount of 20 billion kwanzas was approved, now covering 1487 projects, mainly in the agricultural sector (723), followed by trade and distribution (463) and manufacturing industry (158).

"Considering the strong demand for credit verified so far, and which is expected to increase, taking into account the lack of alternatives in the banking market with easy access and low cost, the executive will continue the PAC, in 2023, financing new investment projects, with a view to intensifying and accelerating the process of diversification of the economy", stresses the press release.

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