Portuguese bank BPI sets up credit line to support Portuguese exports to Angola

22 May 2006

Luanda, Angola, 22 May – Portugal’s BPI bank has set up a credit line in order to encourage exports of Portuguese products to Angola, said Paulo Bastos, marketing director at BPI subsidiary Banco de Fomento Angola, Saturday in Luanda.

Called the “BPI Angola Express” line and with a total value of US$150 million, the credit line is exclusive to business owners that are customers of Banco de Fomento Angola, who as importers should negotiate with a Portuguese exporter that must have an account with BPI.

Speaking during the Angola Food Fair, Bastos also said that whoever made use of this credit line would benefit from special prices in opening Documentary Importing Credit (CDI), both with BFA and BPI.

CDI is an instrument created by Banco Nacional de Angola that ensures the exporter will receive its payment and that the importer will receive its product. (macauhub)