Angola: Brazil Extends $2 Billion Line Of Credit For Economic Development

The Angolan Finance Ministry announced that the Brazilian National Bank for Economic and Social Development (BNDES) will grant a $2 billion line of credit pursuant to a memorandum of understanding signed by Angolan Finance Minister Archer Mangueira and Brazilian Foreign Minister Aloysio Nunes,  Macauhub reported Feb. 12. The funds will be used for development projects in Angola. BNDES has funded other social and economic projects in Angola that include highway, dam and municipal water supply system construction.