Russia’s VTB bank lends Angola EUR 118 million through a branch in Austria

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Russia’s VTB bank lends Angola EUR 118 million through a branch in Austria

8:36 CAT | 20 Apr 2016

Reuters / The logo of VTB Bank is displayed on the roof of a building, with towers of the Moscow International Business Centre, also known as ''Moskva-City'', seen in the background, in Moscow, in March 18,2013.

The Russian banking group VTB will lend Angola around EUR 118 million under the terms of an agreement authorized by presidential order of 13 April, reports Jornal de Negócios Wednesday, cited by A Bola.

The financing agreement approved by Angolan President José Eduardo dos Santos involves the Austrian branch of’ state bank VTB.

The Luanda government approved in August 2014, a [different] US$1,500 million (approximately EUR 1,3 thousand million) at the VTB Capital PLC, from the same Russian banking group, also to finance the state budget.

The IMF announced on April 6 this year that Angola had requested an assistance program for the next three years, the terms of which were discussed in Washington (USA) and will continue in May.

Source: A Bola