africa Agriculture Angola Diplomacy Economy

Angolan Development Bank and Czechia analyze financing of productive projects

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The Czech Republic on Wednesday renewed its interest in financing projects of the Angolan Development Bank (BDA) credit portfolio during a meeting between a Czech business mission and the administration of the Angolan bank.

The meeting, held on Wednesday in Luanda, is part of the Memorandum of Understanding between the BDA and the Czech Republic, signed in May 2017 in that country.

The purpose of this memorandum is to reinforce the intention of the Czech Republic to finance agricultural and industrial projects in the BDA credit portfolio in the context of increasing domestic production, reducing imports and promoting exports in the country.

Speaking to Angop, the executive director of the BDA, Mário Monteiro, considered the meeting as profitable, evaluating the bank’s actions and projects, as well as knowing the conditions necessary to have access to financing the Czechs Republic.

During the meeting, the delegation of the Czech Republic expressed availability to finance the projects submitted by the BDA, but only met the necessary requirements for the achievement of this intention.

According to him, the agricultural and industrial sectors are the main ones elected to benefit from the Czech financing.

Angola established its first political-diplomatic and cooperation relations with the Czech Republic on 1 January 1993, the date on which the new Czech State was established.

A Declaration on Bilateral Relations between Angola and the Czech Republic was signed on 1 December 1999.

Source: Angop

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