(Ecofin Agency) - The European Investment Bank wants to support the development of Angola. The bank says it is considering investing €30 million ($33.7 million) in high growth potential Small- and mid-sized companies. Funds will be managed by commercial banks operating in the country.
Marc Leistner, representative of Angolan Bank, indicates funds are expected to be available by 2020 but before that, EIB will select the commercial bank that will manage the money. Selection will be carried out by October 2019.
This is not EIB’s first investment in Angola. As a reminder the Bank approved €15 million in 2017 to TV Cabo Angola to boost Internet as well as radio and tv services in the country.