Angola: Bank Assesses Projects of Eight Agribusiness Companies in Huambo

Huambo — Projects of eight livestock companies operating in the province of Huambo are under analysis by Banco BAI, within the scope of the Credit Support Project (PAC), which aims to provide financing to foster national production.

According to the director of the Integrated Economic Development Office of this province, Angelino Edmundo Elavoco, who spoke on the sidelines of the workshop on conditions of access to the PAC, the aforementioned companies submitted the credit application processes in 2019.

The companies are waiting for a positive opinion from BAI, so that the projects can be leveraged.

"If at least four projects are financed, out of the eight sent, it is already a great asset for the central plateau, but if they are all better, in view of the need for large-scale production, to face the challenges of economic diversification", said the person in charge.

In his turn, the executive director of Banco BAI, Simões Ferreira, said that the workshop aimed to clarify the businessmen and the general public of the requirements and rules for joining the 30 billion kwanza credit line, which the banking institution made available to the entire country, within the framework of the Credit Support Program.

See What Everyone is Watching

More From: ANGOP

Don't Miss

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.