AFDB MAKES AVAILABLE US$700M FOR PROJECTS IN ANGOLA

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Over US $ 700 million from the African Development Bank (AfDB) are available to support public and private sector projects in Angola, said Thursday in Luanda, the bank's strategist, Joel Daniel Muzima.

The official spoke at a seminar on financing instruments for international institutions, sponsored by the Ministry of Finance, and said that the support includes financial sector with USD 425 million, agriculture and fisheries with USD 101.7 million, water and sanitation USD 123.7 million.

Of the value, 90 million dollars are available for the social sector, 24 million USD for multi-sectoral transport and 4,7 million dollars for transport.

He stated that the loans have a maturity of 20 years for the public sector and 15 for the private sector, including the five years of grace, and can be granted in US dollars, Euros, yen and rand.

As for the plans in the portfolio, the bank plans to reduce the minimum loan to private, which amounts to 30 million dollars, to benefit small and medium-sized enterprises.

Founded in 1964, the AfDB has a capital of 100 billion US dollars and has 78 member countries, 53 regional and 25 non-regional.

Source: NAM NEWS NETWORK