Luanda: The National Bank of Angola (BNA) has initiated a six-month moratorium on bank loan repayments for families and businesses impacted by the recent floods in Benguela province. This measure is part of a series of exceptional strategies aimed at alleviating the financial strain caused by the natural disaster, which resulted in both human casualties and extensive material damage. According to Angola Press News Agency, the announcement was made by Tiago Dias, the Governor of the National Bank of Angola, following the 1st Extraordinary Session of the Economic Commission of the Council of Ministers, which was presided over by President Joo Lourenço. The moratorium decision is in response to the devastation caused by the overflow of the Cavaco River in Benguela. The BNA has created a temporary instruction applicable to all banking financial institutions in the nation. This directive suspends interest payments and capital repayments for a six-month period, providing financial respite for those affected by th e floods. Families and businesses must apply for the moratorium within 30 days, and banks are required to respond within 15 days. Tiago Dias emphasized that this initiative is part of a broader package of measures approved by the government, which also includes financial lines and tax incentives to aid in the economic recovery of Benguela. "The objective is to reduce the financial burden on families and businesses at a particularly difficult time, allowing for their gradual recovery," he stated. Eligible customers are those who can demonstrate direct impact from the floods, with the possibility of extending this measure to other regions affected by recent natural events. The moratorium symbolizes institutional solidarity from Angola's financial system towards its citizens and enterprises. It is noteworthy that President Joo Lourenço recently visited Benguela to assess the flood damage and called for urgent actions to mitigate the impacts and expedite the recovery process in the affected regions.