Bank of China approves AKz 440 million credit for economy

Luanda - The branch of the Bank of China (BOC) in Angola approved, until 31 October of this year, a 440 million kwanzas credit for specific areas of the country's real economy.

Of the total amount approved, 270 million kwanzas were granted and 170 million settled, according to the announcement by this financial institution published on its official website, to which ANGOP has had access.

Under the terms of the National Reserve Bank of Angola (BNA) Notice No. 04/2019, which guides the concession of credit to the real sector of the economy and Notice No. 07/2019, were approved and disbursed 170 million Kwanzas over the six-month period, the same amount has already been settled and the existing balance is zero, according to the China branch.

Under Notice No. 10/2020, to date 270 million kwanzas were approved and 100 million kwanzas disbursed over six months, and the existing balance is 100 million kwanzas.

The branch in Angola, which is one of the world's largest financial institutions, provides financial services to Chinese as well as Angolan companies.

Based in Talatona, BOC was the first Asian bank as well as the first foreign bank established in the form of a branch in Angola, officially opened in June 2017.

 

Of the total amount approved, 270 million kwanzas were granted and 170 million settled, according to the announcement by this financial institution published on its official website, to which ANGOP has had access.

Under the terms of the National Reserve Bank of Angola (BNA) Notice No. 04/2019, which guides the concession of credit to the real sector of the economy and Notice No. 07/2019, were approved and disbursed 170 million Kwanzas over the six-month period, the same amount has already been settled and the existing balance is zero, according to the China branch.

Under Notice No. 10/2020, to date 270 million kwanzas were approved and 100 million kwanzas disbursed over six months, and the existing balance is 100 million kwanzas.

The branch in Angola, which is one of the world's largest financial institutions, provides financial services to Chinese as well as Angolan companies.

Based in Talatona, BOC was the first Asian bank as well as the first foreign bank established in the form of a branch in Angola, officially opened in June 2017.