The information was given by the president of that institution, Admassu Tadesse, after a meeting with the President of the Republic, João Lourenço, which took place this Wednesday, in Luanda.
In statements to the press, cited in a statement from the Presidency of the Republic, to which VerAngolta had access, Tadesse informed that the bank "works in close collaboration with the Sovereign Fund of Angola, with the Ministry of Finance and with banks in order to support the development of this country".
On the occasion, he also highlighted that the priority is the agriculture, energy, transport, health and commerce sectors, "in an investment that could cost 500 million dollars".
This financing portfolio is initially budgeted at 500 million dollars, but could rise to 1 billion dollars over a five-year horizon.
"We have identified, in principle, an amount of 500 million dollars to start in several projects and in several areas (...). This is the initial reserve for Angola. Over the next five years, this amount could grow to one billion of dollars", explained Admassu Tadesse, speaking to Rádio Nacional de Angola (RNA).
Regarding the focus of the investment, the official said that they are targeting several sectors, highlighting that Angola has "innumerable potentialities": "We are going to focus on several sectors, because Angola is a country with innumerable potentialities, from (...) food production, refined oil, natural gas, energy (...) and sectors that will sustain the local economy, because we consider that Angola has the potential to reduce its dependence on imports and produce the basic amenities to sustain its economy and so that can then obtain economic independence and be able to produce what they need locally".
"There are countless areas in which we can work with Angola (...)", he added.
"We are paying attention to the development of several projects in Angola, including some that are along the Lobito Corridor, we have also been looking at agricultural development projects and in the financial sector (...). There are several projects that we already have in mind in Angola", he said, quoted by RNA.
It is worth noting that the president of the East and Southern Africa Commerce and Development Bank began, last Monday, a five-day visit to Angola.
In addition to the meeting with João Lourenço, another of the highlights of his visit to Angola – which runs until Saturday – is the participation in the Business Forum on financing opportunities, which takes place this Friday, in Luanda.
The forum is promoted by the Sovereign Fund of Angola and, in addition to Tadesse, will also be attended by José de Lima Massano, Minister of State for Economic Coordination, Vera Daves, Minister of Finance, and Armando Manuel, President of the Board of Directors of the Angolan Sovereign Fund.
