Africa Financial Sector Responses to COVID-19 - Angola

Jul 28, 2020

This page presents measures and initiatives by the Angolan government, national central bank and Development Finance Institutions (DFIs) in support of a resilient domestic financial sector facing the effects of the COVID-19 pandemic.

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Instrument

Institution

Financing volume

Description

Monetary Policy

National Bank of Angola

N/A

(May 07, 2020) Strengthening monetary policy by :
* Activating the overnight lending facility, with a maximum of 100 billion Kz (186 million USD), renewable every 3 months, on a non-cumulative basis, during fiscal year 2020;
* The inclusion of large companies in the productive sector in the discount facility for public securities capped at 100 billion Kz, initially intended only for small and medium enterprises.

Multilateral loan

African development bank

USD 40 million

(April 30, 2020) The facility will enable Banco Millennium Atlântico (BMA) to finance the expansion needs of small and medium-sized enterprises (SMEs) with high growth potential and operating mainly in agriculture, agro-industry and domestic production.

Monetary policy and liquidity facility

National Bank of Angola

USD 186 million

(April 15, 2020) A series of monetary policy measures, including : 
* The reduction of the interest rate on the seven-day liquidity absorption facility from 10% to 7% ;
* The establishment of a liquidity facility of up to 100 billion (Kz) kwanza (USD 186 million) for the acquisition of government securities held by non-financial corporations.

 

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