Benedict Oramah
Angola
is getting $2Billion financing support from African Export-Import
Bank (Afreximbank), according to Bank President Dr. Benedict Oramah.
Dr.
Oramah, who was speaking in Luanda on 24 May during an audience with
President João Manuel Gonçalves Lourenço of Angola, said that the
amount included various trade financing facilities for essential
imports.
The
meetings also discussed proposals for $1 billion to be offered under
the Bank’s Investment Guarantee Refinancing Facility (ICREF) to
facilitate private sector investments in industrial and non-oil
productive activities, including export manufacturing, fishing,
agri-business and tourism. ICREF will be offered through designated
banks.
Dr.
Oramah said that the financing would also support the
financial services sector by enabling selected Angolan Banks to issue
letters of credit, to be confirmed by Afreximbank, for the continued
importation of essential commodities, including food items and
pharmaceuticals.
Dr.
Oramah also held meetings with Archer Mangueira, Minister of Finance
of Angola, and Dr. José de Lima Massano, Governor of the Banco
Nacional de Angola, to agree on modalities for the implementation of
the proposed financing as well as on Angola’s participation in the
Intra-African Trade Fair being organized by Afreximbank in Cairo from
11 to 17 December.
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