"With the purpose of facilitating the process of financing Angolan businesspeople under the Deutsche Bank (DB) credit line, the Development Bank of Angola (BDA) informs that the list of equipment supplier countries has been extended, allowing them to be identified by project proponents", according to a BDA press release.
Among the suppliers of import contracts, Portuguese companies that export a minimum value of five million euros were included, as was already the case for contracts from Spain. In other countries, the minimum import value remains at 10 million euros.
With this amendment, it is no longer necessary to comply with the mandatory requirement to present an exporter or main supplier who is a Deutsche Bank customer for the financing of export contracts.
Thus, more Angolan businessmen will be able to have access to financing and suppliers from more countries, such as Portugal, said the chairman of the executive board of the BDA, Patrícia d'Almeida, quoted in the same note.
The list of suppliers includes other supplier countries, as long as they are members of the Organization for Economic Co-operation and Development (OECD).
It will be up to the BDA and the DB to carry out due diligence with the exporters that are identified by the project proponents, focusing on their technical and financial capabilities and reputational profile to guarantee the realization of the proposed projects.
The credit line aims to support the Angolan private sector in importing equipment, goods or services essential for the implementation of investment projects, financing export/import contracts for the supply of equipment, goods or services.
Among the priority sectors financed by the line are agriculture, livestock, agro-industry, fishing, manufacturing and mining.