Angola: US Exim Bank to grant Angola credit facility

9 April 2009

Luanda, Angola, 9 April – The US Export-Import Bank will make US$120 million available to four Angolan banks in order to facilitate the import of North American products, the US embassy in Angola has said.

According to a statement from the embassy, quoted by Angolan news agency Angop, the Exim Bank board approved the credit facility with the aim of allowing the four banks – African Investment Bank (BAI), Banco Fomento Angola (BFA), Banco Poupança e Crédito (BPC) and Banco Espírito Santo Angola (Besa) – to provide their clients with efficient assessment and speedy approval.

In 2008, Exim Bank authorized financial support of US$14.4 billion for North American exports, estimated at US$19.6 billion worldwide.

For Sub-Saharan Africa, Exim Bank authorized over US$555.3 million for insurance policies and export credit guarantees.

In the past, Exim Bank has loaned Angola US$350 million to buy aircraft. (macauhub)