Angola issues debt for Angola Invest programme

1 February 2016

The government of Angola will issue debt of 5.18 billion kwanzas (US$33 ​​million) in order to capitalise the Credit Guarantee Fund (FGC), which endorses loans granted under the “Angola Investe” credit programme, according to a presidential order.

The order authorises the Ministry of Finance to issue Treasury Bonds in national currency in favour of the FGC in order to “expand the provision of agricultural credit to domestic producers.”

This issue of Treasury Notes has an amortisation period of 24 years, paying a coupon of 5 percent per year.

The “Angola Investe” programme was created by the Angolan government to support investment in productive sectors in the country, through bank loans.

Alongside this measure, in 2012 the government created the Credit Guarantee Fund, to support this programme, which in 2014 analysed around 100 credit requests per day. (macauhub/AO)