Africa-Press – Angola. The Development Bank of Angola (BDA) announced, on Thursday, a partial relaxation of the conditions for the loans of the Deutsche Bank credit line, reducing the minimum value of the contracts from the equivalent of 10, to five million euros in import operations. and export with companies from Germany, Spain and Italy.
The director of the Structuring Operations Office of the BDA (the bank that is intermediating the credit line), Ângelo Correia, said yesterday that, in transactions that transcend these three countries, the minimum volume for the adhesion to the loans remains at ten million euros, as well as the interest rate of 6.70 percent, with repayment terms to be negotiated between borrowers.
Ângelo Correia said that this slight easing of financing conditions, available under the credit line of the Spanish subsidiary of Deutsche Bank, valued at one billion euros, follows statements made by President João Lourenço at a press conference in which he regretted the weak adhesion of national companies to this financing instrument.
The credit line finances projects in the Agriculture, Manufacturing, Livestock, Fisheries and Mining Industry sectors, and has been available since May 2019, when it was formalized, providing for the minimum amount for contracts for the import and export of equipment, goods and services between the Angolan and foreign companies, would be 10 million Euros, which inhibited many national businessmen from joining the Credit.
Ângelo Correia made these statements at a meeting held with Angolan businessmen, to clarify the requirements for joining the Deutsche Bank credit.
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