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Wed, 10 Jul 2019 16:37 - Updated Wed, 10 Jul 2019 18:15

BDA provides USD 1 billion to private sector

Luanda - USD one billion is the amount that the Angolan Development Bank (BDA) will make available to private sector credit, announced today the Minister of State for Economic Coordination, Manuel Nunes Júnior.

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State minister for Economic Development, Manuel Nunes Junior

Photo: Nelson Malamba

According to the minister, speaking at the opening of the International Conference on "Financing Economic Development" in FILDA, the value is part of the Program for Support to Private Partnerships, which aims to give more dynamism to the country's economic growth engine - sector privatetaking into account the Program to Support Production, Diversification of Exports and Substitution of Imports (Prodesi).

With a credit line for financing public-private partnerships, Manuel Nunes Júnior added, national production could easily expand.

He also mentioned that national production involves the stabilization and existence of energy and potable water, in order to reduce expenditures in this area.

He also emphasized the importance of access to credit, as a prerequisite for private investment, since it is always an asset.

In his view, the holding of the Fair constitutes the basic framework for the emergence of new economic activities around diversified production chains, being carried out on the initiative of public and private economic agents.

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