Angola: Spain’s Deutsche Bank grants 225 million euros to improve roads

17 April 2008

Luanda, Angola, 17 April – Deutsche Bank of Spain will grant Angola financing of 225 million euros to improve roads in various provincial capitals, namely in Luanda, Kuando Kubango, Moxico and North Kwanza, Angop reported Thursday.

The Angolan news agency added that the two-year agreement will be signed in London by Angolan Finance Minister José Pedro de Morais.

The 225 million euros of financing should be reimbursed in eight years.

Deutsche Bank of Spain has already granted Angola more than 5 billion dollars for public works, construction and agriculture projects.

This is the first time Angola benefits from an agreement of this kind in the European financial market; the process has been defined and organized by an offer of securities from various investors. (macauhub)