The African Export-Import Bank (Afreximbank) has pledged to support Angola’s trade with 2 billion dollars. The Bank President, Dr Benedict Oramah, who made the pledge during an audience with President João Manuel Gonçalves Lourenço of Angola in Luanda said that the amount would include various trade financing facilities for essential imports.
The meeting 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.
The facility would also cover export manufacturing, fishing, agri-business and tourism.
“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,” Oramah added
He also held meetings with Archer Mangueira, the Minister of Finance in 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.
The meetings also discussed Angola’s participation in the Intra-African Trade Fair being organized by Afreximbank in Cairo from Dec. 11 to Dec. 17.
