Ver Angola

Economy

Angolan Development Bank financed 1807 projects with 45 billion kwanzas

The Angolan Development Bank (BDA) disbursed 45 billion kwanzas this year to finance projects in the sectors of agriculture, commerce and distribution, livestock and manufacturing industry, the government announced this Tuesday.

: Ampe Rogério/Lusa
Ampe Rogério/Lusa  

According to the secretary for the Economy, Ivan dos Santos, the BDA has approved 1807 projects, corresponding to more than 71 billion kwanzas, with 714 projects waiting for the respective disbursements.

Ivan dos Santos, who was speaking at the usual 'briefing' of the week, underlined that BDA funding falls within the Credit Support Project (PAC), with 1807 projects having been approved in the sectors of agriculture, commerce and distribution, livestock and manufacturing industry, the main beneficiaries of this support, are also fisheries, tourism, urban waste, textiles and clothing.

Agriculture, with 413 projects, trade and distribution with 268, livestock with 146, manufacturing industry with 106 and fisheries with 82 projects, are the five sectors most benefited by the PAC.

The official stressed that, so far, the Technical Project Unit has completed 3583 dossiers, of which 2071 have been submitted to the BDA.

"The BDA has approved 1,807 projects, has already financed 1,093 and 714 projects are awaiting disbursements. There are 1,512 projects in the portfolio of INAPEM's Technical Project Unit awaiting financial availability for the purpose", said the Secretary of State for the Economy.

The initial goal of the PAC was to approve 1,000 projects, but in view of the demand for funding, 807 more credit dossiers were approved, "which, in itself, reveals the need to finance domestic production".

Funded projects have a grace period of 15 months, the first repayments should begin in August of next year.

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