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Afreximbank will move approximately $ 500 million to Angola by the end of the year in the aviation and banking sectors, announced Saturday the director of the Department of Finance. credit analysis of the bank.
"We are working with Government of Angola in several projects, which can go up to $ 500 million or more by the end of the year." TAAG wants to buy some More planes, and the banks must also, we talk to them to see how we can cooperate, "said Samuel Loum, director of the credit analysis department of the African Export and Development Bank. Import (Afreximbank) 19659003] In an interview with Lusa on the sidelines of the Annual Meetings of Afreximbank, ending in Abuja today, Samuel Loum explained that these 500 million will be the first installment of a total of 2 billion dollars agreed when the president of the bank, Benedict Oramah, visited Angola two months ago and will be available until 2020.
"Since we started our operations in Angola in 1995 , we have already made available $ 1.9 billion, of which 1.4 billion has been removed. Since 2016, when we really increased our stake in the country, "said the head of credit analysis of African countries in Afreximbank
Asked about the reason for the sharp increase in recent years, Samuel Loum has explained that "Angola, and in particular Sonangol, which received the first loan in 1995, worth 500 million, had easy access to international markets because of high oil prices." [19659002] Now he continued, "We are doing more and more in Angola, in oil, in financial institutions, in aviation, in debt, sovereignty and the energy sector because we usually go into countries when others leave. "
In addition to the nearly $ 500 million that will be available in the coming months, Samuel Loum stressed that the intervention of Afreximbank "
" We have also opened lines of credit for banks, because there may be delays in terms of and we do it very quickly, and we do it so that the banks do not default on their trade obligations. "
Afreximbank, whose Annual Meetings are held until Saturday in Abuja, the capital of Nigeria, is a support bank for trade, exports and imports in Africa and was established in Abuja in 1993 It has a capital of 11.9 billion dollars and is headquartered in Cairo.
Shareholders are public entities, private partnerships divided into four categories, including African governments, central banks, institutions regional and subregional, private investors, financial institutions, export credit agencies and private investors, as well as non-African financial institutions and individual investors
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