Africa-Press – Angola. The Carrinho Group starts this year to receive 57 million euros from the Deutsche Bank, to boost food production, through the construction of an industrial park for crushing and crushing soy and sunflower, in Lobito, Benguela province.
Disbursement arises from a partnership between the Italian Export Credit Agency (SACE) and the largest German bank, with the aim, among others, of promoting national production of various food products, via the soybean and sunflower crushing plant managed by Cart.
Money arrives in Luanda by the Development Bank Angola (BDA), according to a note from the group on Friday.
According to the report, the industrial park “will be one of the largest in Africa”, crushing and crushing these grains, whose credit facility is supported by SACE and the BDA.
Justifying the funding is, among others, the need to encourage food production in Angola.
Deutsche Bank confirmed the operation this Thursday (13th) and certifies that the disbursement is to cover, in addition to the construction of the factory, the treatment of food production in the country, in a period of 10 years guaranteed by SACE and the BDA, read- if in the note.
Construction of the soybean and sunflower crushing plant will take approximately two years and is expected to create around 300 direct jobs and thousands of indirect jobs related to the planting of soybeans and sunflowers.
The transaction is the first Individual Loan Agreement (ILA), concluded under the Export Credit Framework Agreement (FA), signed in May 2019 between Deutsche Bank, BDA and the Ministry of Finance of Angola to finance projects private investment in the country.
The credit line, organized by the bank’s Structured Trade & Export Finance (STEF) team for the Government of Angola, aims to finance agriculture, agro-industry, fisheries and industries in general with the aim of guaranteeing a greater supply of goods, services and employment, creating new opportunities for the population.
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