The guarantee will be granted under the credit line of 1000 million euros, provided by the Spanish branch of Deutsche Bank, writes Expansão.
According to presidential order no. 51/22 of 14 March, quoted by the same newspaper, the financing for the company was established between the Development Bank of Angola (BDA), Deutsche Bank and the Spanish Export Credit Agency.
The issuance of letters of guarantee will be the responsibility of the Ministry of Finance, the order adds.
Founded by Álvaro Eugénio and Vanda Eugénio, in June 2000, the company Alva Fishing operates in the fishing sector. Initially with a share capital of 2000 kwanzas, the company managed, six years after opening its doors, to increase its capital to 100,000 kwanzas. In 2016, another increase was registered again, to two million kwanzas.
According to Expansão, this is the second project financed by Deutsche Bank's credit line, the first being directed to a project by Grupo Carrinho.
This credit line is intended to support private projects in the agriculture, livestock, agro-industry, fisheries and industry sectors.
