Polish state bank opens credit line to Angola
Polish state development bank, Bank Gospodarstwa Krajowego (BGK) has opened a credit line of US$100 million for Angola to finance projects in the sectors of fisheries, agriculture and transport, among others, under an agreement signed on Tuesday in Luanda.
To achieve this financing, the Angolan Ministry of Finance and the BGK signed a memorandum of understanding, which aims to expand relations between the two economies, according to Angolan state news agency Angop.
The document sets out the general terms and conditions governing each individual financing facility, and the specific and inherent conditions of each agreement will be subject to approval by BGK, the Polish Credit Export Agency and Angola, said the Polish ambassador in Angola, Piotr Mysliwiec.
The ambassador said that implementation of public investment projects will be the responsibility of companies of Polish origin as contractors or subcontractors, while the choice of areas for funding will be Angola’s responsibility.
The memorandum was signed by the director of the Debt Management Unit of the Finance Ministry, Osvaldo João and the director of BGK, Arkadiusz Zablotonski, and this is the first credit line opened by BGK in favour of Angola.
Angola, 22. März 2017
15.03.2018 Angolanische Regierung für Schaffung einer Wettbewerbsbehörde
14.03.2018 Neue Agentur für Privatinvestitionen gegründet
08.03.2018 Foreigners no longer need to have Angolan partners with new Private Investment Law
01.03.2018 Corrupt are punished with up to 10 years in prison
28.02.2018 Angola will organize 10 trade fairs for investment promotion