ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Economy

Wed, 29 Jul 2020 11:12 - Updated Wed, 29 Jul 2020 11:12

Four more banks join credit support programme

Luanda- Four more banks have expressed their availability to join the Credit Support Programme (PAC).

Send by email

To share this news by email, fill out the information below and click Send


To report errors in the texts of articles published, fill out the information below and click Send

Banco SOL joins pac

Photo: Gaspar dos Santos

They are Banco Sol, Banco Caixa Geral Angola, Banco Prestígio and Banco de Crédito de Sul.

The four finational instituition are expected to sign a memorandun of understanding with Ministry of Economy and Planning, Development Bank of Angola (BDA) and the Credit Guarantee Fund on Thursday.

The initiative will reinforce the loan portfolio of this programme with an additional 24.7 billion kwanzas.

The aforementioned amount may increase with the adhesion of the other banks, which have expressed interest in joining the Support Programme for National Production, Export Diversification and Import Replacement ( PRODESI), which  has 198 billion Kwanzas from nine commercial banks - BPC, BIC, SKA, BAI, BNI, BCH, BMA, BCI and BFA.

With the accession of these four new banks, PAC has AKZ 222.7 billion available to finance projects not included in the PRODESI scheme.

In addition to the memorandum with the banks, the Angolan Venture Capital Fund (FACRA) will sign contracts with eight micro-credit companies, to ensure the operation of the third line of credit for economic and financial relief measures against negative effects, worth 4 billion kwanzas.

This line aims to boost the activity of micro-businesses in the segments of food processing, logistics and distribution of agri-food and fishing products, recycling of solid urban waste, cultural and artistic production, software development and other products and services that constitute the agribusiness chain.

Tags Angola  

Read also
  • 28/07/2020 11:26:43

    Government collects Kz 31 billion with Propriv

    Luanda - At least thirty-one billion kwanzas (USD 92 million equivalent) is the amount collected by the Angolan State from the sale of 14 assets under the 2019/2022 Privatisation Programme (Propriv).

  • 28/07/2020 08:30:37

    Government maintains commitment to fiscal consolidation

    Luanda - The Minister of Finance, Vera Daves, Monday here considered that it was imperative for the Government to continue to implement the fiscal consolidation measures, despite the slight decline in the current context.

  • 27/07/2020 12:56:32

    Italy: Diplomat defends investment in renewable energies

    Rome - The Angolan ambassador to Italy, Maria de Fátima Jardim, defended joint actions to attract investments in the renewable energy sector, within the scope of strengthening economic cooperation between the two countries.