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Tue, 13 Jun 2017 07:49 - Updated Tue, 13 Jun 2017 07:49

Angola: Banking union finances Lauca dam with USD 400 million

Luanda - The International Business Bank (BNI), acting as Agent Bank, led the Banking Union, which granted fund to the Ministry of Finance by issuing Treasury Bonds for up to 10 years, in the amount of Kwanzas equivalent to USD 400 million, Angop learnt on Monday through a press release.

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The 1st tranche that was made available in the amount of AKZ 18,161 million also counted on the participation of BMA - Banco Millennium Atlântico and BAI - Banco Angolano de Investimentos, and was destined to the Laúca hydroelectric project, under construction in the Kwanza river, a project of extreme relevance under the National Economy.

This project is a good example, real and consequent of BNI's contribution and its banking partners for national growth and affirmation, based on a substantial improvement in the living conditions of all Angolans.

"BNI Bank is leading the Financing in national currency, thus, one of the largest relevant projects to stimulate Angolan production, contributing to the consequent affirmation and diversification of our sector", reads the BNI press release.

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