Germany finances Angola’s airports

28 November 2005

Luanda, Angola, 28 Nov – An agreement between the African Investment Bank (AIB) and Germany’s Exportation Financing Bank (AKA) was signed Friday by the German and Angolan governments to provide a credit line for the air navigation sector, an AIB press release said.

According to the press release, the agreement is guaranteed by the German credit insurer Hermes, which will manage the credit line for Angola’s national airport company, ENANA.

The financing for ENANA will pay for the acquisition of five “Solar VOR/DEM” systems to support air travel in Angola and as part of the government’s investment program.

The press release adds that last August the AIB signed a financing agreement with AKA for the Luanda water company, Empresa de Águas de Luanda. (macauhub)