Uíge - Angolan Investment Bank (BAI) has made available for Uíge province, four billion kwanza to grant credit packages to local entrepreneurs, the local manager, Maria Bengui said Monday.
This year BAI has granted four loans valued at 650 million kwanzas, out of a total of 12 requests, after last year 39 requests were not dealt with, due to a lack of land titles and organised accounting by the companies that applied for them.
Maria Bengui, who was speaking at a workshop on Employment, Entrepreneurship, Social Responsibility and Local Development, explained that the "PAC Express" product provides 50 million per businessperson, whilst the "Startup Credit", without guarantee, has a lower amount.
She noted that BAI had just four bank branches, amongst the 16 municipalities in Uige province.
At the meeting, promoted by MPLA's Office for Citizenship and Civil Society, the workshop participants asked commercial banks to continue providing bank credit, a measure that aims to empower young people with entrepreneurial initiatives.
