News 2 min of reading
The Banco de Fomento Angola (BFA) and the Credit Guarantee Fund (FGC) have signed an agreement to implement the "Diversifica Mais" Guarantee Line, a project by the Angolan government aimed at encouraging economic diversification and job creation in the country.
The agreement, financed by the World Bank with 80 million dollars, aims to facilitate access to credit for micro, small, and medium-sized enterprises (MSMEs), with special attention to the Lobito Corridor. There is a specific sub-window to support women-led businesses. The program will be active until 2029.
This initiative aims to enhance the capacity of financial institutions to grant credit to MSMEs, promoting financial inclusion and job creation. For BFA, this agreement reinforces the commitment to Angola's economic development, helping to mitigate risks associated with loans and boosting confidence in the private sector.
Source: Forbes Africa Lusófona
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