BPC Bank Negotiates Increase of Micro-Credit Financing

Sep 2006
Luanda , September, 22 2006 - Banco de Poupança e Crédito (BPC) public bank is negotiating with the government to increase financing for micro-credits and other credits, aimed at reaching a total of USD 20 million, informed Friday, the institution's Administration Council chairman, Paixão Júnior.

"From the USD 10 million of the financing made available by the government in 2006, five million were have been spent already and the other half will be used until the end of the first quarter of 2007. Yet, we are proposing an increase of more than USD 10 million to the initial amount", he said.

The official made this statement at the end of a course on Micro Credit and Micro Financing Training, organised by the Banking Training Institute (IFBA), in partnership with the Angolan Business Nucleus (PEA) of the Angola National Reserve Bank.

The micro-credit programme and credit for consumption are being developed by the banks BPC and Banco Sol since 2005. Both were selected by the government to manage USD 10 million each.

The micro-credit and micro finance course lasted 15 days and benefited 43 people of ten institutions such as BPC, Development Workshop (DW), Banco de Comércio e Indústria (BCI) bank, Novo Banco bank, Fonga and the Family and Women Promotion Ministry (Minfamu).

Source : All Africa

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