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Deutsche Bank is to lend Angola €1 billion for private-sector development projects, according to a dispatch signed by Angola’s president, João Lourenço, which Lusa had access to on Monday.
The loan granted by Deutsche Bank Spain is aimed at boosting Angola’s private sector and will be materialised “through framework financing agreements with national commercial banks,” the dispatch said.
The dispatch also approves the draft and annexes of several framework agreements and grants the minister of finance the authorisation to exercise the role of guarantor of the state in signing these.
The dispatch establishes that the sovereign guarantees (Guarantee Letters) to individual finance agreements to be celebrated will be “conceded case to case,” taking into account the specifications of each project and provided that they are aimed at the agriculture, industry and livestock and fishing industries.Source: Lusa