United States’ Ex-Im bank announces unlimited funding for Angola

14 February 2014

The director for Africa of the United States’ Export-Import Bank (Ex-Im Bank) said in Luanda that the bank was available to provide unlimited amounts of funding to business projects in Angola.

Rick Angiuoni said, however, that the priorities for the Ex-Im Bank’s credit line to Angola were the agriculture, energy, aviation, oil and gas, transport and telecommunications sectors and that the banks that were accredited to provide the loans were Banco Poupança e Crédito (BPC) Banco de Fomento Angola (BFA), Banco Angolano de Investimento (BAI) and Banco Espírito Santo Angola (BESA).

The director for Africa of the Export-Import Bank said that the credit lines would have a repayment period of seven years.

Angiuoni also said that the bank had decided to scrap the ceiling on funding to Angola as it believed that the African country is a partner of strategic importance to the United States in Africa.

He also said that so far businesspeople from Angola had had a credit line available to them of 12 billion kwanzas, which had never been used. (macauhub)