Angola: United States’ Ex-Im bank makes trade with Angola easier

28 February 2008

Washington, USA, 28 Feb – The United States’ Export-Import bank has changed its policy towards Angola, and now covers medium-term projects (up to seven years), both in the public and private sector, the US embassy said in Luanda Tuesday.

According to a statement from the US embassy, the expansion of the bank’s coverage policy in Angola came into force on 15 February, 2008 and is the result of Angola stronger macroeconomic position.

“Over the last few years, Angola has had budget surpluses and has lowered inflation. The rise in GDP has been robust and the country has systematically paid off its external debt. Some of these successes are due to higher oil prices, but reforms and measures taken by the Government have also had an influence,” the statement said.

The Ex-Im programs create new opportunities for developing business in both countries, giving Angolan exporters access to additional funding instruments, such as credit guarantees and credit insurance for exports.

They also provide US companies with access to project finance making it easier for them to contribute to the efforts to rebuild Angola in the post-conflict period.

The Ex-Im Bank is an official US agency providing export credit and for the last 71 years has helped to finance the sale of export products from the US, particularly to emerging markets all over the world. (macauhub)