The Angolan Development Bank (BDA) is a public financial institution created under Decree 37/06 of 7 July 2006 of the Council of Ministers, aiming to support the country’s sustained economic growth. The BDA is aimed at increasing national wealth, improving the well-being of the population and building and consolidating the country’s economy. The BDA is a privileged instrument for financing the development of the national economy in the light of the Government’s Economic and Social Development Program and the National Long-term Development Strategy.
Without prejudice to support for public-interest projects of national interest, the BDA preferably carries out its activities with the aim of stimulating private initiative, with a view in particular to the provision of goods and equipment for training and access to new technologies necessary for the productive activity of small, medium and large companies.
The Genesis of the BDA
The history of the BDA began in 1999, when the President of the Republic promoted the creation of the Economic and Social Development Fund, and in 2006 the BDA became the sole manager of the BDA. National Development Fund (FND), created in the same year. A step was taken to consolidate the vision of the BDA and to initiate the compliments of the mission of the BDA.
At the origin of the creation of the BDA is the reflection on the need to transform the financial resources obtained by the State with the exploitation of nonrenewable resources of the extractive sector (oil and diamonds) in fixed income generating assets.
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