African bank grants US$500 million loan to Angola

16 July 2018

The African Export and Import Bank (Afreximbank) will grant a loan of up to US$500 million to Angola later this year to be applied in the civil aviation and banking sectors, said the director of the bank’s Credit Analysis Department, in statements made in Abuja, Nigeria.

Samuel Loum also told the Lusa news agency that the US$500 million will be the first installment of a two-billion-dollar loan agreed upon when Benedict Oramah visited Angola two months ago, and which will be provided by 2020.

“Since we started operations in Angola in 1995, we have already granted US$1.9 billion, out of which 1.4 billion has been released since 2016 when we actually increased for Afreximbank.

Afreximbank, whose Annual Meetings were held in Abuja, the capital of Nigeria, is a bank to support trade, exports and imports in Africa, established in that same city in 1993, with its registered office in Cairo, Egypt, and capital of US$11.9 billion.

The shareholders are public and private entities divided into four classes and include African governments, central banks, regional and subregional institutions, private investors and financial institutions, export credit agencies, private investors, as well as non-African financial institutions and individual investors. (macauhub)