Deutsche Bank opens credit line to finance Angolan entrepreneurs

10 May 2019

Deutsche Bank has opened a 1 billion-euro credit line to finance Angola’s private sector under an agreement signed on Wednesday in Luanda with the Ministry of Finance and Banco de Desenvolvimento de Angola, according to an official statement.

The statement said this agreement and its annexes, in which Deutsche Bank is the lender, Banco de Desenvolvimento de Angola is one of the borrowers and the Ministry of Finance is the guarantor of the operation, had been approved by Presidential Decree No. 53/19 of 09 of April.

The Minister of Finance, Archer Mangueira, said that the credit line could be put into operation by several banks and added that Banco de Desenvolvimento de Angola was the first to meet all the requirements, “which has allowed us to formally close the negotiation process.” (Macauhub)