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Wed, 02 Sep 2020 17:01 - Updated Wed, 02 Sep 2020 17:01

Over 170 credit support projects wait for bank approval

Luanda - At least 176 projects await approval from commercial banks and 200 to be disbursed under the Credit Support Program (PAC), the Secretary of State for Economy, Mário Caetano João said Tuesday.

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The government official, who was speaking at the usual briefing about the actions of the Ministry of Economy and Planning (MEP) in the last five days, stressed that of the projects approved 133 are of the trade sector, 32 of agriculture, 23 from industry, six of fisheries, four agro-industry and two of poultry.

The Secretary of State explained that a regular meeting was held early in the week with the 14 banks involved to discuss the operationalization of the PAC.

Topics such as the approval phase of the projects in the banking sector, the main constraints and perspectives for their approval were addressed during the meeting, the official said.

On that occasion, the MEP requested greater engagement from commercial banks in the dissemination and simplification of credit access conditions at bank branches throughout the country, as well as the disbursement of approved projects.

According to the government official, during the period in question, the Development Bank of Angola (BDA) did not receive any new PAC projects, and the last three approved projects by (BIC, BAI, and BNI) refer to an approved amount of funding of 9 billion kwanzas.

Regarding credit support, Mário Caetano João said that 4,714 applications were registered in the credit support area, 98 more than the previous week, of which 2,952 are active in the database, and 2,390 are in the credit file stage, representing 80%.

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