German bank expands credit line managed by BNI in Angola

11 August 2014

The 40 million euro credit line opened in 2013 by Germany’s Commerzbank in favour of Angola’s Banco de Negócios Internacional (BNI) has been increased to 70 million euros, the Angolan bank announced in Luanda.

The credit line was set up to finance imports of German equipment for various industrial development projects in Angola and was “well received by our clients, so a decision has been made to increase its value.”

BNI also indicated that other conditions remain unchanged, namely the repayment period for each individual financing loan, which varies between 5 and 13 years.

In July BNI and the International Finance Corporation (IFC) of the World Bank reached agreement to open a US$25 million dollar credit line to finance companies from the industrial, commercial and distribution sectors. (macauhub/AO)