Angola and Spain’s BBVA Said to Be in Talks for $1 Billion Loan
- Loan would be used to help economy diversify away from oil
- Angola also seeks to diversify funds, with China main creditor
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Spanish lender Banco Bilbao Vizcaya Argentaria SA is in talks with Angola’s government to provide a loan of as much as $1 billion, according to people with direct knowledge of the matter.
The loan would be for public investments in a range of sectors as the oil-producing African nation seeks to diversify its economy away from oil, the people said, asking not to be named discussing private information. BBVA’s proposal is preliminary and a decision has not yet been reached, they said.