Africa-Press – Angola. Executive administrator of the Angolan Investment Bank (BAI), Irisolange Verdades, said on Tuesday, in Luanda, that her institution is engaged in granting credit, facilitating small and medium-sized companies in the country.
The person in charge, on the sidelines of the XII Economic and Finance Forum, promoted by the Angolan Banks Association (ABANC), said that BAI finances the national economy in various products.
However, Irisolange Verdades emphasized that, despite financing, economic agents must be increasingly prepared to access micro credit
The administrator gave as an example the operation of the “advance now” service, a financial product known to customers and which already had a high default rate, “but everything was done so that commercial actions could have a lower default rate”, he assured.
Regarding the investment made in the agricultural and industrial sector, he revealed that in the past there was investment in these areas, but it was decreasing.
“Today, we have some people prepared. We are now more likely to grant credit to the agricultural sector with some caution, precisely because of the risks it entails. However, we have been embracing it, and we will continue to support it”, he highlighted.
BAI, he pointed out, is part of the agricultural campaign that was set up by the Executive, so it has a line of 43 billion kwanzas to support small and medium-sized companies.
In turn, engineer Fernando Pacheco states that the quality of projects presented to banks is normally not of good quality, which is why banks hold back and do not finance.
The representative of the World Bank, Belisário dos Santos, said that it is challenging, in a current national and international context, for public policies to play a fundamental role in changing the paradigm of the economic model, with a view to shortening the best solutions to reinforce economic resilience. of the country and its competitive capacity.
The XII Economy and Finance Forum, promoted by the Angolan Banks Association (ABANC), addressed the urgency of economic diversification in Angola,
crucial for sustainable growth and reducing dependence on oil.
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