[2019-07-11] Angola’s private sector has a credit line of US$1 billion

Source: Macauhub

Banco de Desenvolvimento de Angola will provide a credit line to the Angolan private sector in the amount of US$1 billion, a measure supported by the Ministry of Finance and financed by Deutsch Bank, said the Minister of State for Economic Coordination.

Minister Manuel Nunes Júnior, speaking at the opening of an international conference on financing of economic development, called for increased credit to the economy and said that the confidence of economic agents in the Angolan market is being restored.

The conference was part of the 35th edition of the International Luanda Fair (Filda), which began on Tuesday and runs until Saturday in the Luanda-Bengo Special Economic Zone, 25 kilometres from the centre of the Angolan capital.

The minister also said that this credit line is part of the Programme to Support Private Partnerships, which aims to make the private sector more dynamic, as “the engine of economic growth in Angola,” taking into account the Programme to Support Production, Diversification of Exports and Replacement of Imports (Prodesi).