Angolan bank offers credit fund to farmers

Sep 24, 2010

Angola's Savings and Credit Bank (BPC) has moved to improve access to finance for farmers in the country by allocating 20 per cent of its credit fund to the agriculture industry.

Agencia AngolaPress reports the firm is making approximately $3.8 billion (€2.84 billion) available to farmers in the nation. BPC has set up a microfinance board, which will oversee the allocation of money to agriculture businesses, Accounting Manager at the institution Fatima Silveira remarked.

The aim of the move is to stimulate Angola's agricultural production, the bank representative was quoted by the news source as saying. Agencia AngolaPress recently revealed BPC has opened a new branch in the Calai District of Angola's Kuando Kubango Province as part of its expansion plans in the country.

Businesswomen in Angola are also getting support, after Sol Bank reached an agreement that will give females running their own companies access to microcredit, the news provider noted.