AfDB supplies Angolan Investment Bank (BAI)

The African Development Bank (AfDB) will make available to the Angolan Investment Bank (BAI) $ 100 million to finance various projects.
The representative-resident of the pan-African financial institution in Angola, Joseph Martial Ribeiro, made the announcement on Wednesday (September 26th) in Luanda.
This amount is part of the $ 700 million that ADB allocates to the Angolan economy, of which 520 million have a direct impact on the private sector.
In addition, the financial institution is studying the possibility of two other Angolan banks for a new line for small and medium enterprises.
According to Joseph Martial Ribeiro, the objective of these actions is to facilitate access to funding for projects that are very advanced in terms of preparation.
It should be noted that since the beginning of ADB activities in Angola in 1980, the Bank has already approved 43 loans totaling $ 2,000 million (€ 1,612 million) and ongoing operations include nine projects in the field of finance.