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Angola: Credit Suisse Bank grants Angola U.S.$700 million loan

*A Swiss bank Credit Suisse bank branch in Geneva, Switzerland. REUTERS/Denis Balibouse.

27 May 2018, Sweetcrude, Luanda — A financial agreement estimated at 700 million US dollars was approved in Presidential Order for the financial coverage of strategic projects, ANGOP learnt last week.

The agreement of the financing line, according to the published Presidential Order in the state gazette of May 14, will be signed between the Government of Angola, represented by the Ministry of Finance and Credit Suisse Bank.

According to the document, there is a need to ensure financial execution for strategic projects to be decided by the authorities of the Republic of Angola

Without specifying such projects, the Presidential Order authorizes the Finance minister to sign this financing line and prepare the entire related documentation.

In another order, President Joao Lourenco approved the financial agreement to be concluded between the Ministry of Finance and the Angolan Investment Bank (BAI), in the total amount of 15 billion kwanzas, for the coverage of purchase of food and medicines for the Ministry of the Interior and for the President’s Security Office.

This order justifies the need to ensure food logistics for the Ministry of the Interior and the President’s Security Office.

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