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ATLANTICO ANNOUNCES JOINT MEASURES TO SUPPORT NATIONAL EFFORTS TO COMBAT COVID-19
- The world is facing a painful health crisis, due to the pandemic, formally declared on March 12 by the World Health Organization, caused by Covid-19. Similar to the rest of the world, in Angola we have felt the effects of the pandemic on two major, often conflicting fronts: in the threat to public health and the well-being of the populations and in the economic crisis of global dimensions, with dramatic consequences for families and economic agents.
- The current situation requires all economic and social agents to multiply their efforts and make a determined commitment to overcome this crisis. Thus, their contribution, in articulation with the Interministerial Commission to combat Covid-19 is fundamental so that the mechanisms to mitigate the threat are implemented safely and sustainably, both in the immediate term and structurally.
- Among the first measures, according to the Chairman of the Board of Directors, Dr. António Assis de Almeida, the Bank has begun an investment in biosecurity material, which includes the acquisition of medical equipment and essential goods, to be donated to the Interministerial Commission for the Prevention and Combat of Covid-19. The said equipment will include tests, surgical masks, protective equipment for clinical teams, and ventilators, and preference should be given to products that maximize national production.
- On another front, and absolutely convinced that the impact of the health crisis on the country's economic life requires the creation of financial instruments to help minimize those impacts, Banco Millennium Atlântico - in collaboration with Hemera Capital Partners and the Disruption Lab - announces that they will launch an Impact and Transformation Social Investment fund for Entrepreneurs.
- The Fund, under the management of Hemera Capital Partners, will be aimed at supporting proven small and medium-sized businesses that address current market needs, particularly in the areas that have been most severely affected by the Covid-19 pandemic. Companies benefiting from the Fund will also be supported by the Disruption Lab in matters of innovation management and implementation.
- The Fund will have a minimum endowment of AKZ 3,075,000,000.00( Three thousand and seventy-five million kwanzas), resulting from a firm investment commitment assumed by Banco Millennium Atlântico. In addition to the Bank, the Fund will actively seek other underwriters, national and international, in the areas of social impact investment and will immediately begin the investment processes, as soon as the legal procedures for incorporation are fulfilled and subject to obtaining all applicable approvals.
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