- The project will have a positive impact on the Angolan economy and society
Deutsche Bank, through the Structured Trade & Export Finance team, has arranged a 1 billion euro credit line to finance private investment projects in Angola. Arranged at the request of the Government of Angola and guaranteed by its Ministry of Finance, the credit facility will be distributed through five Angolan banks with credit decisions remaining with Deutsche Bank.
This new financing line will focus on agriculture, agro-industry, fishing and general industries with three objectives:
1) to guarantee a greater supply of goods, services and employment for the population by supporting private projects in the relevant industries.
2) to improve the country's balance of payments by supporting projects which help to reduce imports and / or promote export-related initiatives, and
3) to have a positive impact on the lives of Angolans.
To receive financing the projects must meet these three criteria.
The project, which includes all Deutsche Bank regions (Asia, Europe and America), was led by the Structured Trade & Export Finance team in Madrid which has a longstanding relationship with Angola. This dates back to 2003, when Deutsche Bank signed the first credit line with the Ministry of Finance of Angola, which the Angolan government used to finance public projects in construction and civil infrastructure, the agriculture and food industry, as well as sanitation and telecommunications.
Deutsche Bank is the first bank to arrange a private credit line of this kind in the country.
Ignacio Ramiro, Head of Structured Trade & Export Finance for Deutsche Bank Spain, said: “With this operation we are seeking to support the private sector as a driver of positive impact on Angolan society. Deutsche Bank’s long relationship with Angola includes supporting 3 billion euros of public sector projects. Now it is time to continue this relationship and also involve private sector initiatives. Angola’s rapid transformation is creating exciting opportunities for global companies looking to partner and invest there.”
Global Transaction Banking in Spain
Global Transaction Banking (GTB) offers treasury management products, international trade financing and custody services to large companies, multinationals with a presence in Spain and financial institutions, as well as SMEs through collaboration with the Private & Commercial Bank division (PCB).
GTB works with more than 6,000 SMEs with international business, while in the large corporations segment it serves more than 100 large domestic groups, Spanish multinationals and their subsidiaries outside of Spain, and 2,000 subsidiaries of foreign multinationals with business in Spain.
Deutsche Bank was recognized by Euromoney for the third consecutive year as the best Trade Finance bank in Spain and the best provider of Cash Management services for companies and institutions in Spain, a service that includes solutions aimed to manage the treasury, payments and cash operations.
-Ends-
About Deutsche Bank
Deutsche Bank offers products and services for retail banking, investment banking, transaction banking and asset management to companies, governments, institutional investors, SMEs and private clients. Deutsche Bank, leader in Germany, has a strong position in Europe and a strong presence in America and Asia. Deutsche Bank has been present in Spain for 130 yearsand currently has a team of 2,400 professionals who serve more than 650,000 clients in more than 180 branches.
More information:
Deutsche Bank
Cristina Gómez / Sofía Labastida
+34 93 367 37 71 / +34 91 335 56 54
cristina.gomez@db.com / sofia.labastida@db.com
Evercom: Pedro Rodríguez / Pablo Maté
Teléfono: +34 91 577 92 72
pedro.rodriguez@evercom.es / pablo.mate@evercom.es
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