Russian bank VTB grants loan to Angolan Finance Ministry

5 November 2012

The VTB bank, Russia’s second-largest, will open up a credit line to Angola of US$2 billion, said the chairman of the bank, Andrey Kostin.

According to Angolan news agency Angop, the Russian bank previously provided the Finance Ministry with a loan of US$1 billion.

The Russian bank, which has been in the Angolan market for the last five years, will now provide another loan of US$2 billion to the ministry.

Kostin, following a meeting with Angola’s president, José Eduardo dos Santos, also said that VTB was available to provide loans to Angolan businesspeople. (macauhub)