BFA and FGC sign “Diversifica Mais” agreement”

O Banco de Fomento Angola (BFA) and Credit Guarantee Fund (FGC) have signed an agreement to implement the “Diversifica Mais” Guarantee Line, a project of the Angolan government that aims to incentivise diversifying the economy and job creation in the country.

The agreement, financed by the World Bank with 80 million dollars, The aim is 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 businesses led by women. The programme will be active until 2029.

This initiative aims to increase the capacity of financial institutions to grant credit to MSMEs, promoting financial inclusion and job creation. For BFA, this agreement reinforces its commitment to the Angola's economic development, This will help mitigate risks associated with loans and boost confidence in the private sector.

Source: Forbes Lusophone Africa

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