20 October 2012

Angola: BIC Bank to Release U.S.$60 Million to Fund Local Invest Programme

Photo: Leadership
ATM machine

Caxito — The International Credit Bank (BIC) will set aside USD 60 million to fund the Angola Invest Programme, said Friday in Caxito, northern Bengo province, the director for private and business of the banking institution.

Francisco Lorenço assured so to the press at the end of the meeting intended to clarifying the local businessmen on the credit policy.

The official guaranteed the availability of the amount, adding that the his institution is awaiting the projects of operators for analysis and approval.

According to him, the priority will go to defined areas in Angola Invests Programme.

Angola Invest is a government programme tasked with creation and strengthen of the national Micro, Small and Medium Enterprises (MPME) granting subsidized credit lines and a mechanism of public guarantees.

The project comprise about USD 250 million to support Angolan businessmen, with priority to agriculture, livestock, fisheries, construction materials, support services to the productive sector, manufacturing industry and geology and mining.

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