Africa-Press РAngola. Luanda РThe President of the Republic, Jọo Louren̤o, this Friday encouraged Angolan businesspeople to access the Deutsche Bank credit line, which aims to finance the agriculture, livestock, farming, fishing, manufacturing and mining sectors. .
Speaking at the ordinary meeting of the Economic and Social Council, President João Lourenço said that the country risks losing the benefits of the aforementioned credit line, if businesspeople show a lack of interest in joining the credit line.
With a global value of one billion euros, the Deutsche Bank credit line is a solution for granting import/export credit, within the scope of an agreement signed between the Development Bank of Angola (BDA) and that German bank.
At the meeting, the Head of State said that Angola cannot continue to waste the resources available to the country, especially at a time when the focus is on reversing the structure of the economy and making the State intervene less in this segment, passing this task to the private sector.
The Deutsche Bank credit line also aims to promote and support the Angolan private sector in importing equipment, goods or services essential for the implementation of investment projects.
It is a mechanism that finances, among others, export/import contracts for the supply of equipment, goods or services (for projects), credit insurance premiums and fees or expenses inherent to import/export contracts.
Among the advantages offered by the credit line to national businessmen are the availability of foreign currency for importation, reimbursement of the amount of credit granted in national currency (Kwanza) and without exchange rate changes.
Among the advantages includes the realization of disbursements through direct payments to the exporter by Deutsche Bank and the realization of semi-annual reimbursements.
Economic and Social Council
 President João Lourenço created the Economic and Social Council which is a forum for listening and interaction that allows the Head of State to receive contributions from the business community, cooperatives and the academic scientific community.
In the Economic and Social Council, the President of the Republic also receives contributions from associations for the socio-economic development of women and youth in aspects of programming and carrying out national development tasks.
The referred body is comprised of forty-five members, chosen among recognized specialists in the areas of economic and social sciences, as well as entrepreneurs and managers who will fulfill a two-year term.
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